A bond IPO will usually trade at a premium, just like an equity IPO. If you are talking about retail bonds then investors are more likely to trade in the market at a premium due to 1. Not being aware of IPO 2. Below minimum amount (maybe only ￡2000 but on-line traders may deal in a lot less!)

There is usually a similar bond already listed to make comparisons.

I’ve got a question regarding the price of new (corporate) bond issues. In general the bonds will be issued around par. What’s the reason that these bond will be trading above par some days or months later? Is there a principle behind these price movements? Only demand?