Meaning of “bond covenant” in the English Dictionary

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"bond covenant" in Business English

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bond covenantnoun [ C ]

uk us LAW, FINANCE

a written promise in a bond document stating that the bond issuer (= person borrowing money by selling bonds) will or will not do something, for example borrow more than a particular amount of money:

(Definition of “bond covenant” from the Cambridge Business English Dictionary © Cambridge University Press)