New to finance but: If a company wants to buy back their bonds from investors because interest rates just fell, why would anyone let them buy them back? I mean if I was the investor, I would never trade my high interest bond for one that's lower. I ask this because that's exactly what they do when companies do a "Debt Tender Offer" .

jaejunstocks 

New to finance but: If a company wants to buy back their bonds from investors because interest rates just fell, why would anyone let them buy them back? I mean if I was the investor, I would never trade my high interest bond for one that's lower. I ask this because that's exactly what they do when companies do a "Debt Tender Offer" .

Callable bonds pay more.