Busted Bond

(redirected from Old Bonds)

Busted Bond

1. A bond that has defaulted and on which further payments are extremely unlikely or impossible. Busted bond certificates have become collectors' items. A busted bond is also called an old bond.

2. See: Busted convertible.
References in periodicals archive ?
For them, the visit by the Israeli prime minister is about reconnecting with old friends and strengthening old bonds.
Other school districts around the state, including Eugene and Bethel, have structured long-term capital spending plans so that old bonds are paid off as new ones are approved, avoiding tax-rate spikes.
Elizabeth Comfort, CFO of Terwilliger Plaza, said, "This spring Terwilliger Plaza was led by Ziegler through a refinance of 10-year old bonds.
Uruguay said it intends to use the net proceeds of the sale of the new bonds for general purposes of the government, including financial investment and the refinancing, repurchase or retiring of domestic and external indebtedness, and will use a portion of such net proceeds for liability management transactions, including the payment of the purchase price for old bonds.
And Sir Roger said: "I think viewers will most enjoy seeing that old Bonds never die.
5 billion shall support the switching and retiring of old bonds.
While years later most of its creditors settled to swap their old bonds with heavily discounted new bonds, a group of holdout creditors challenged Argentina in the courts.
Eventually, old bonds will be redeemed and essentially replaced by newer, lower yielding bonds, which can save money for the state and local government agencies that issue municipal bonds.
So is lighting, especially if you have an ugly date" Motoring journalist Jeremy Clarkson "Now is the time of the year when loonier adherents burst through the common old bonds of painting and sculpture and run amok.
The Greek government says that 96% of its old bonds governed under Greek law - worth 177 billion - have now been tendered in the swap.
The people of two countries enjoyed centuries old bonds of friendship and cultural affinity, a statement issued by foreign office on Thursday said.
The people of two countries enjoy centuries old bonds of friendship and cultural affinity.