issue whose component bonds mature at the same time.
bond with a single maturity date, as opposed to a serial bond. Generally, the issuer makes mandatory payments into a sinking fund in the years prior to maturity. Bond issuers meet sinking fund requirements by purchasing the issued security in the open market, redeeming the bonds at market prices, which may be lower than the sinking fund call price. This sinking fund provision spreads the issuer's liability of a general obligation bond over the life of the bond; issuers of revenue bonds are able to match debt service payments with bond revenues.
all the bonds of an issue mature at the same date. If a term bond has a callfeature, it may be redeemed at an earlier date.Contrast with serial bond.
