RNM $1,200,000,000 Callable N/A LOLE 4 As a part of your internship at Village Investments Ltd., you are to review the 2 bonds issued at par, by RNM Fisheries and Sigma Fisheries in the table below. Bond Amount Sigma $150,000,000 In 10 years Call Price N/A $1,100 Security First Demand Mortgage General Debenture over Assets Sinking Fund N/A In 5 years Term 10 years 9% 20 years 10% Coupon Rate You are to identify and explain four features of these bonds that might account for the lower coupon on the RNM issue. Note credit quality is to be ignored. 8