high-yield bond

Main Entry:  high-yield bond
Part of Speech:  n
Definition:  the lowest quality bond, a junk bond; a bond that pays a relatively high rate of interest but bears a high level of risk
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high-yield bond

a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit [syn: junk bond
WordNet® 3.0, © 2006 by Princeton University.
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