FUNDED DEBT, that portion of the indebtedness of a business concern or of a Government which is represented by bonds. Such indebtedness may be created originally by an issue of bonds for a particular purpose, or may have resulted from the funding of various floating debts, i.e., paying off the floating debts with the proceeds of a bond issue made for that purpose. When bonds representing a funded debt mature they are frequently "re-funded," i.e., replaced by another bond issue extending over a further period.