debt extinguishment
noun[CorU]
ukusACCOUNTING
thefactofremovingadebtfrom a company’sfinancialrecordsbecause it has beenpaidback or nolongerexists:
a debt extinguishment profit/lossTheconversionof thedebenturestoSeriesA Stockresultedin adebtextinguishmentlossof $1,048,000.