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extendable bond
ex·tend·a·ble bond (plural ex·tend·a·ble bonds)


noun 
Definition:
 
finance bond with extendable maturity: an instrument of long-term debt whose maturity date can be extended at the option of the lender or issuer
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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