Re-discount

[Mary Mallozziberg]

if a bank rediscounts a debt instrument (= loan) , it buys it from another bank before the date it would normally be paid back for less than the amount owed, after the other bank has already done this for the original lender:

[Vania]

the process of buying a debt instrument (= loan) for a lower price before the date it has to be paid back, for a second or third time: