debt buy-back

debt buy-back
United Kingdom
The process where either a borrower or a related party of the borrower (an affiliate, parent or investor) purchases the borrower's debt from its lender (or lenders) and usually at a discount to par value.
For further details, see Practice note, Debt buy-backs (www.practicallaw.com/6-384-3542).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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