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TeachMeFinance.com - explain Irredeemable bond historic definition... Irredeemable bond -- A bond which cannot be redeemed or paid off, but the interest on which goes on forever. There have been such stock (equivalent to bond) issues in Europe by municipalities, but they have now for the most part been bought up and canceled. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.