Definition of junk bond noun from the Oxford Advanced Learner's Dictionary


junk bond

BrE BrE//ˈdʒʌŋk bɒnd//
; NAmE NAmE//ˈdʒʌŋk bɑːnd//
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a type of bond that pays a high rate of interest because there is a lot of risk involved, often used to raise money quickly in order to buy the shares of another company
See the Oxford Advanced American Dictionary entry: junk bond