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Cambridge Definition
an official paper given by the government or a company to show that you have lent them money that they will pay back to you at a particular interest rate
Cambridge Link
BOND – Cambridge English Dictionary
Wikipedia Definition
In finance, a bond is a type of security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to provide cash flow to the creditor; which usually consists of repaying the principal (the amount borrowed) of the bond at the maturity date, as well as interest (called the coupon) over a specified amount of time.[1] The timing and the amount of cash flow provided varies, depending on the economic value that is emphasized upon, thus giving rise to different types of bonds.[1] The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure.
