In finance, a is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of

In finance, a is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest (the coupon) to use and/or to repay the principal at a later date, termed maturity. A bond is a formal contract to repay borrowed money with interest at fixed intervals.