What is the impact of early redemption on a bond's maturity date?

Early redemption can have an impact on a bond's maturity date, depending on the terms of the bond agreement. If a bond has a call provision, the issuer has the right to redeem the bond before the scheduled maturity date. In this case, the maturity date of the bond may be shortened, and the bondholder may receive the principal amount earlier than expected. On the other hand, if a bond does not have a call provision, the issuer cannot redeem the bond before the scheduled maturity date, and the bondholder is entitled to receive the principal amount on the maturity date. However, the bondholder may choose to sell the bond to another investor before the maturity date, which is known as selling the bond on the secondary market.