Longman Dictionary of Contemporary English
junk bond
noun
EXAMPLES FROM CORPUS
▪ In 1984 our two-man junk bond department spoke at a Salomon Brothers seminar for several hundred savings and loan managers.
▪ Salomon Brothers, slow to learn about take-overs and largely absent from the junk bond market, missed the bonanza.
Wiktionary
junk bond
n. (context finance English) A bond (an instrument of debt) which is considered below "investment grade" due to a significant risk of default by the issuer. The interest rate is higher in order to compensate holders for that risk.
WordNet
junk bond
n. a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit [syn: high-yield bond]