par bond - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “par bond”

par bond

noun [C]
 
 
FINANCE
a bond that is sold at the value that it had when it was first sold: The par bonds paid interest at 4% in the first year, rising to 6% in the seventh year and thereafter.
→  See also par value
(Definition of par bond from the Cambridge Business English Dictionary © Cambridge University Press)
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