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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001209191-09-040066.txt : 20090811
<SEC-HEADER>0001209191-09-040066.hdr.sgml : 20090811
<ACCEPTANCE-DATETIME>20090811192855
ACCESSION NUMBER:		0001209191-09-040066
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090807
FILED AS OF DATE:		20090811
DATE AS OF CHANGE:		20090811

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RIVUS BOND FUND
		CENTRAL INDEX KEY:			0000030125
		IRS NUMBER:				231745238
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		113 KING STREET
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10508
		BUSINESS PHONE:		9142734545

	MAIL ADDRESS:	
		STREET 1:		113 KING STREET
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10508

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	1838 BOND DEBENTURE TRADING FUND
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREXEL BOND DEBENTURE TRADING FUND
		DATE OF NAME CHANGE:	19890511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DREXEL INCOME SECURITIES INC
		DATE OF NAME CHANGE:	19711102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MBIA INC
		CENTRAL INDEX KEY:			0000814585
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-02201
		FILM NUMBER:		091005048

	BUSINESS ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		914-273-4545

	MAIL ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c89204_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-08-07</periodOfReport>

    <issuer>
        <issuerCik>0000030125</issuerCik>
        <issuerName>RIVUS BOND FUND</issuerName>
        <issuerTradingSymbol>BDF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000814585</rptOwnerCik>
            <rptOwnerName>MBIA INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>113 KING STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARMONK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10504</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Parent of Inv. Adv. See Remark</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Shares of Beneficial Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2009-08-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>110667</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>15.77</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>442667</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Subscription Rights (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.77</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-08-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>332001</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-08-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-08-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Shares of Beneficial Interest</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>110667</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <remarks>This filing is made on behalf of MBIA Inc. (&quot;MBIA&quot;).  MBIA Capital Management Corp., the issuer's investment adviser, is an
indirect wholly owned subsidiary of MBIA.</remarks>

    <ownerSignature>
        <signatureName>/s/ Gail D. Makode, Assistant Vice President and Assistant Secretary of MBIA Inc.</signatureName>
        <signatureDate>2009-08-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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