Bond maturity refers to the date on which a bond or debt instrument is due to be repaid in full to the bondholder or creditor. It is the date on which the issuer of the bond must repay the principal amount of the bond to the investor, along with any interest that has accrued over the life of the bond. Bond maturity is an important factor to consider when investing in bonds, as it can impact the risk and return profile of the investment. Generally, the longer the maturity of a bond, the higher the risk and potential return.