Debt Service
The amount of principal and interest required to be paid on an issue of bonds.
bond-basics
Level Debt Service
A Maturity schedule in which the combined annual amount of Principal and Interest payments remains relatively constant over the life of a Bond Issue. Some state laws require Level Debt Service for certain transactions.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.