From Longman Dictionary of Contemporary Englishjunk bondˈjunk bond noun [countable] BFSa bond which has a high risk and is often sold to pay for a takeover
Examples from the Corpus
junk bond• 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.From Longman Business Dictionaryjunk bondˈjunk bondFINANCE a bond with a high rate of interest, but with a high risk of not being repaidHe estimates that 38% of junk bonds will default at some point. → bond 