debt service

noun

: the amount of interest and sinking fund payments due annually on long-term debt

Examples of debt service in a Sentence

Recent Examples on the Web The bank transferred $3.8 million from its debt service reserve fund, essentially a savings account, to help pay for it. Sarah Ritter, Kansas City Star, 22 Mar. 2024 Tax increment dollars can then be used to pay the debt service on bonds or applied to specific infrastructure projects. Jennifer Van Grove, San Diego Union-Tribune, 12 Mar. 2024 Additionally, the bill specifies that hotel occupancy tax revenue may not be used for capital projects or debt service and will take effect in 60 days. Dillon Mullan, Baltimore Sun, 17 Jan. 2024 The current draft plan allocated $37 million for debt service. Sarah Lapidus, The Arizona Republic, 31 Jan. 2024 The franchise has paid significant penalties related to the competitive balance tax and has been out of compliance with MLB regulations related to debt service. Bryce Miller, San Diego Union-Tribune, 7 Dec. 2023 In January 2022, Henderson State still had a $12.5 million shortfall for the fiscal year ending that June, with long-term debt of $78 million that required annual debt service payments of $6.9 million. Ryan Anderson, Arkansas Online, 2 Nov. 2023 Revenue in the city’s three main budget categories — maintenance and operating, capital, and debt service and special funds — were ahead of expenses so far this year. Megan Jones, Chicago Tribune, 28 July 2023 For anyone with an adjustable-rate mortgage denominated in krone (like our Danish friend above), the move reduced their monthly debt service. Robert Goulder, Forbes, 11 Dec. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'debt service.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1929, in the meaning defined above

Time Traveler
The first known use of debt service was in 1929

Dictionary Entries Near debt service

Cite this Entry

“Debt service.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/debt%20service. Accessed 25 Apr. 2024.

Legal Definition

debt service

noun
: the amount of interest and principal payments due annually on long-term debt
Last Updated: - Updated example sentences
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