The company receives the total amount the underwriting firm paid for the bond, less the fee it pays for the underwriting service. The company doesn’t receive any profit from the trading on the secondary market.
Since bonds are debt, the company now has a group of investors to whom it owes money that must be repaid at a certain time. The company doesn’t grant the bond holders any stake in making company decisions, and it can use the new funds as it sees fit. However, the amount of debt a company carries may have a negative influence on its stock price and the way analysts and investors evaluate it as an investment.
Planning for the future
A company that issues bonds has to manage the new influx of capital carefully, so that it has enough cash on hand to pay periodic interest and the full value of the bonds when they come due.
If the bonds are
callable,
the company also has the option of redeeming the bonds, or paying holders the
face value
or slightly more, before the
maturity date.
A company might decide to call its outstanding bonds if the interest rates drop, for example, because it could issue a new bond or take a loan at a lower cost than the original bond issue.
Professor Samuel L. Hayes,
Harvard Business
School
Professor 
