An issue of bonds that mature at the same time. Corporate bonds are sometimes term bonds. In these situations, a corporation issues bonds and sells them to whatever person or institution will buy them; all the bonds mature at the same time. Both municipal bonds and corporate bonds combine aspects of both term and serial issuances in which some parts of the issue mature at various times, but in which the bulk matures all at once. See also: Serial bonds.
Any of various bonds that mature on the same date. Corporate bond issues are often of the term variety because all the bonds of a given issue are scheduled to mature simultaneously. Municipalities often issue a combination of serial and term bonds with periodic retirements of serial bonds and then a redemption of a block of term bonds during the final year. See also serial bonds.