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Meaning of “pay down sth” in the English Dictionary

"pay down sth" in British English

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pay down sth

phrasal verb with pay uk   /peɪ/  us   /peɪ/ verb (paid, paid)
to pay part of an amount that you owe, so that the debt is reduced: She plans to live at home with her mother while she pays down her student loan.
(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   us   /peɪ/ 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)
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