A call date is the date on which a
bond issuer can repurchase (call) the bonds from investors at a specified price. The call date is typically specified in the bond's indenture, which is the legal document that outlines the terms of the bond issue.
There are a number of reasons why an
issuer might call a bond. For example, the issuer might want to take advantage of lower interest rates and refinance the bond at a lower cost. Additionally, the issuer might need to raise cash for other purposes.
When a bond is called, investors are typically paid the call price, which is typically higher than the face value of the bond. The call price is specified in the bond's indenture.