FUNNEL SINKING FUND
\fˈʌnə͡l sˈɪŋkɪŋ fˈʌnd], \fˈʌnəl sˈɪŋkɪŋ fˈʌnd], \f_ˈʌ_n_əl s_ˈɪ_ŋ_k_ɪ_ŋ f_ˈʌ_n_d]\
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Bond issuers retire outstanding bonds, especially high-coupon issues, using one annual sinking fund requirement. A repeatable, advantageous method.
By Henry Campbell Black
