Funded-debt definitions

fŭn'dĭd
Debt with a fixed rate of interest and a maturity of longer than one year.
noun
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A debt issue whose repayment has already been provided for in some manner. One example of funded debt is a bond issue that has a sinking fund, which is a fund to which regular payments are made. When the bond matures, the issuer will have the money on hand to redeem the bonds.
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