A bond on which
the payment of the principal is postponed.
When the repayment of bonds cannot conveniently be met at maturity
in cash, the bondholders may be offered new bonds to take their place
or the old bonds may be extended.
In the latter case, when the security behind them is not changed,
the bonds are said to be extended or continued.
An extended bond is not to be confused with an EXTENSION BOND.