Additional Bonds

Additional Bonds and the related “Additional Bonds test” are concepts often found in a Master Indenture, Bond Resolution/Ordinance and related documentation. Additional Bonds are Bonds which may be issued in the future under the same Master Indenture, Bond Resolution/Ordinance, and related documentation upon meeting certain conditions designed to ensure that the revenues available to repay the original Bonds, any currently outstanding Additional Bonds, and the proposed Additional Bonds will be sufficient (the “Additional Bonds test”).

See Also

Parity Debt

Two or more issues of bonds with the same priority of claim or lien on the same underlying security and sources of repayment (i.e., revenues) for all of the bonds.

Hudson Yards Rail Yards

Start with the Bond Basics

Term of the Week


A meeting of all the parties prior to the closing, often held the day before the closing.