Corporations typically have the right to repurchase a debt issue prior to maturity at a fixed price,but only after some number of years have passed.Such debt is said to feature:

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The feature described in the question is known as a "deferred call." This means that the issuer of the debt can only repurchase it at a fixed price after a certain number of years have passed. This is different from a "redeemable-at-par provision," which allows the issuer to repurchase the debt at any time for its par value. A sinking fund is a requirement for the issuer to set aside money over time to retire the debt, and a balloon payment refers to a large payment that is due at the end of a loan term.

Corporations Typically Have the Right to Repurchase a Debt Issue