Extinguish

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Extinguish

Retire or pay off debt.

Extinguish

To cause a security to cease to exist. This especially applies to debt securities; for example, when a bond matures, it is said to be extinguished. See also: Repay.
References in periodicals archive ?
94, which expresses the SEC staff views about when a gain or loss should be recognized on the early extinguishment of debt.
31, 1991 and 1990 reflect extraordinary gains from MDC's repurchase of its senior subordinated and subordinated notes and from certain other debt extinguishments.
The Financial Accounting Standards Board will issue tomorrow Statement 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.
04 per common share for the net loss on extinguishments of debt.
The net loss for the year, before a $15,602,000 goodwill impairment charge, a $2,097,000 loss on the sale of land and building and a $561,000 loss associated with debt extinguishments and modifications, was $514,000, or $0.
16 per share, after the extraordinary gain on early extinguishments of debt, net of tax, of $40,000, for the fourth quarter of 2001, compared with a net loss of $1.