Joint Bond

A joint bond is legal now in many Blue States. But that's probably a different joint bond than the one you're looking for here.

Instead, the one you seek exists where multiple parties guarantee both the principal and interest. Which means that, if a joint bond defaults, the buyer of the bond who now wants their money back has a guarantee to get that money back from more than one person/institution.

Joint bonds are bonds that are sharing and caring...because sharing risk (thus reducing individual risk) is caring.

Who knew a type of bond could be so adorable?

Besides general risk-spreading and sharing by bond issuers, joint bonds are common in situations where you have a subsidiary and a parent company. If the subsidiary issues a bond, it’s no surprise that it’s kinda actually issued by the parent company...so they just do a joint bond where it’s both, and call it a day.