Meaning of “pay down sth” in the English Dictionary

business-english dictionary

(Definition of “pay down sth” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"pay down sth" in Business English

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pay down sth

US
phrasal verb with pay uk /peɪ/ us verb paid, paid

FINANCE to pay part of an amount of money that you have borrowed, reducing the total debt:

The group is expected to sell its television assets to begin to pay down debts of almost $400m.
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(Definition of “pay down sth” from the Cambridge Business English Dictionary © Cambridge University Press)