Definition for : Gross yield to maturity

The gross Yield to Maturity, before taxation and intermediaries' fees, represents: for Investors, the Rate of return they would receive by holding the bonds until Maturity, assuming that Interest payments are reinvested at the same Yield to Maturity; for the issuer, the pre-tax discounted cost of the loan (see Cost of debt).

(See Chapter 21 Other debt products of the Vernimmen)

To know more about it, look at what we have already written on this subject