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 ?
He said both Sikhism and Islam had centuries old bonds and hoped that this relation would continue in the future.
As old bonds expired, the district issued new, unrelated bonds, taking advantage of good timing.
After a public event on CETA and progressive trade at the Conseil des relations internationales de Montreal, the Trade Commissioner will give a speech at the Jean Monnet Centre for European studies at the University of Montreal, entitled: Old Bonds, New Opportunities.
M2 EQUITYBITES-May 21, 2018-Serneke contemplates new bond loan issue; Plans redemption of old bonds
NORDIC BUSINESS REPORT-May 21, 2018-Serneke contemplates new bond loan issue; Plans redemption of old bonds
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.
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."
Of the proceeds of the global bond issuance, $500 million will fund the budget while the bigger chunk of $1.5 billion will 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.