1.   It will use about half of the funds raised from the sale to repay existing debt.

2.   Analysts said Asahi may be issuing the bonds to help pay for its planned capacity expansion and to redeem existing debt.

3.   And rising interest rates will push up the cost of existing debt for Mazda and for its domestic dealership networks, the ratings agency said.

4.   Any conversion of Sallie Mae into a private company will preserve the government-sponsored enterprise status of its existing debt securities.

5.   Argentina is doing the borrowing now to assure that it has the cash on hand to meet the principal payments on existing debt that come due this year.

6.   Any extra interest the borrower owes is added to existing debt.

7.   Aside from selling assets, Accor has sought other solution for reducing the costs of its existing debt.

8.   Basically, these techniques will lower the amount of existing debt that counts against the debt ceiling, so that there is enough borrowing capacity to sell new bonds.

9.   Borrowers tend to reduce existing debt and avoid taking out new loans for expansion.

10.   British Telecommunications had promised its investors that it would maintain an A-grade rating by reducing its existing debt.