: the amount of interest and sinking fund payments due annually on long-term debt
Example Sentences
Recent Examples on the WebBut most employee costs, airplane costs, debt service, and real estate costs continued even though there was little to no revenue to support it. Ben Baldanza, Forbes, 1 Aug. 2022 But despite those hiccups, the budget passed this week largely resembles those of previous years, with the largest portions dedicated to routine annual expenses such as payroll, pensions, and debt service. Globe Staff, BostonGlobe.com, 29 June 2022 The school board also unanimously approved fiscal 2023 budgets for food services ($8.5 million), debt service ($10.5 million), and the capital improvements program ($31.7 million). Cameron Goodnight, Baltimore Sun, 20 May 2022 And debt service on fines. Support local journalism. Ivana Hrynkiw | Ihrynkiw@al.com, al, 20 Jan. 2022 Back in 2007, mortgage debt service payments accounted for 7.2% of U.S. disposable income. Lance Lambert, Fortune, 9 Aug. 2022 With no monthly debt service to a lender, the all-cash/debt-free DST potentially can pay larger monthly distributions to investors. Betty Friant, Forbes, 17 June 2022 The current plan anticipates a 5% interest rate on a 20-year bond, with an annual debt service of $2.5 million to be paid equally by the CCCFDC board and the county. Kaitlin Durbin, cleveland, 2 Aug. 2022 Mainly, with a real volumes recovery still apparently well in the future, the only way to cover rising debt service and operating costs will be with asset sales or dividend cuts. Roger Conrad, Forbes, 24 July 2022 See More
Word History
First Known Use
1929, in the meaning defined above
Legal Definition
debt service
noun
: the amount of interest and principal payments due annually on long-term debt