Knowledge base
Practical articles on bonds — from the basics to coupon mechanics, taxes and credit risk.
Articles
23 articles
OKI from 2027: bond eligibility, limits and tax rules
How does OKI work from 1 January 2027? Retail and corporate bonds, PLN 25,000 and 100,000 exemptions, the 0.85% rate and tax examples based on enacted law.
Oct 6, 2026
Treasury versus corporate bonds: differences, returns and risks
Compare issuers, interest, yields and exit mechanics. Learn why a higher coupon does not automatically mean a better outcome.
Oct 5, 2026
IKE and IKZE bond investing: accounts, taxes and early returns
Learn which bonds different IKE/IKZE accounts can hold, how their tax benefits differ and why bond redemption is not an account withdrawal.
Oct 5, 2026
How to buy corporate bonds on Catalyst: account, order and costs
From an ISIN and broker access to dirty price and order execution. An example explains why a quote of 101.2 is not the complete purchase cost.
Oct 5, 2026
Corporate bonds: how they work, what to check and their risks
A guide to company bonds: coupons, redemption, primary offers and Catalyst. Learn how to organize research on a specific series.
Oct 5, 2026
Can someone from abroad buy Polish bonds? Where and how?
A practical guide for foreigners in Poland and people living abroad: purchase channels, documents, brokers, PLN, taxes and questions before opening an account.
Oct 2, 2026
PLN bonds and returns in EUR or USD: exchange rates, inflation and costs
A positive zloty return can mean a loss in your spending currency. We show a simple example, conversion costs and the limits of Polish inflation indexation.
Oct 2, 2026
What is a bond and what does a bondholder actually own?
A bond is issuer debt owed to an investor, not equity in a company. We explain bondholder rights, cash flows and the basic differences between issuers.
Jun 16, 2026
Coupon, nominal value, redemption and terms of issue - a bond glossary
One bond table can mix price, coupon, nominal value, maturity and yield. We organize the terms that appear around every series.
Jun 16, 2026
Bond interest: how WIBOR plus margin and coupon resets work
Understand floating-coupon formulas, observation dates and interest calculations. A worked example shows how a falling benchmark changes a future payment.
May 28, 2026
The Belka tax on bonds - what you actually keep
We explain the standard 19% rate, accrued interest and exceptions for nonresidents. Coupon tax and gains on sale require separate assessment.
Oct 2, 2026
How to calculate bond returns after tax, inflation and costs
Move from gross interest to net and real returns. Worked examples show the effects of commission, inflation and coupon reinvestment.
Oct 2, 2026
Yield to maturity (YTM): calculation, example and limitations
How does YTM differ from the coupon? A one-year bond example explains the effects of price, accrued interest, costs and early redemption.
Apr 30, 2026
Fixed or floating bond interest: payments, prices and risk
Compare payment predictability and reactions to changing rates. Distinguish exchange-traded price risk from retail early-redemption rules.
Jun 16, 2026
Corporate bond risk: analyzing issuer reports
Debt, cash flow, interest coverage and maturities. A research sequence and an example of the limitations of net debt to EBITDA.
Apr 12, 2026
Polish retail treasury bonds: COI, EDO, ROR, TOS - how to compare them
We compare retail series: inflation-linked, fixed and floating. We explain when different types behave differently and what early redemption means.
Oct 2, 2026
Retail and exchange-listed treasury bonds - key differences
Retail treasury bonds and treasury series listed on Catalyst share a state issuer, but differ in purchase channel, liquidity and exit mechanics.
Oct 2, 2026
Covenants in terms of issue: what can a bondholder demand?
Leverage above the threshold? A dividend paid despite a restriction? We explain typical Catalyst covenants and the early redemption demand mechanism.
Mar 2, 2026
How Catalyst works: quotes, issuers, documents and statistics
Catalyst organizes quotations for corporate, municipal, treasury and other debt instruments. We explain the sections that matter most to investors.
Oct 2, 2026
How to read a Catalyst bond page before analyzing a series
Price, turnover, issuer, documents, interest tables and market events form one puzzle. We show the order in which to read them.
Jun 16, 2026
Clean price, dirty price and accrued interest - how to read settlement
The quoted price is not always the amount you actually pay. We explain accrued interest and when dirty price matters most.
Feb 18, 2026
Warning signs before deciding on a corporate bond
High yield can compensate for real risk. We collect warning signs visible in documents, reports, liquidity and supervisory communications.
Jun 16, 2026
Bond liquidity on Catalyst: spread, order book and partial fills
How can you assess an exit before maturity? Examples distinguish last traded price, an available order and the cost of the spread.
Feb 4, 2026