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RefundTo retire existing bond issues through the sale of a new bond issue, usually to reduce the interest rate being paid.Refund Similar MatchesJunior refundingJunior refundingIssuing of new securities to refinance government debt that matures in one to five years. Advance refundingAdvance refundingIn the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the first call date of old bonds (the issue to be refunded). The refunding issue usually specifies a rate lower than the issue to be refunded, and the proceeds are invested, usually in government securities, until the higher-rate bonds become callable. See: Refunding escrow deposits. RefundableRefundableEligible for refunding under the terms of a bond indenture. Prerefunded bondPrerefunded bondRefunded bond. Senior refundingSenior refunding../../finance-glossary/ment by the issuer of securities with 5-to 12-year maturities with securities of 15-year or longer maturities, in order to delay, reduce, or consolidate payment. Further SuggestionsRefundingLow coupon bond refunding Refunded bond Stopping curve refunding rate Net advantage of refunding Nonrefundable Tax refund Prerefunding High coupon bond refunding |
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