The repurchase of a bond by the issuer before it matures. 指債券發行人在債券到期之前還清本息,提前贖回債券。
Callable bond is a special bond, which the issuer has the right to redeem prior to its maturity date, under certain conditions. 可贖回債券是發行時附有可贖回條款的債券,其賦予發行人在既定條件下,可在期權保護期之後,債券到期日之前按照贖回價格提前贖回債券的權利。