bond-basics

Advance Refunding

A type of refunding transaction in which the Refunding Bonds are issued more than 90 days before the Redemption or final Maturity, whichever is earlier, of the Refunded Bonds.

See Also

Refunding

A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.

Current Refunding

A refunding in which all refunded Bonds are redeemed within ninety days of the issuance of the refunding bonds.

Hudson Yards Rail Yards

Start with the Bond Basics

Private Business Use (PBU) and Tests

Any use of Bond proceeds in a trade or business carried on by a person other than a governmental unit. The private business tests are used in part to establish whether a bond is a private activity bond (PAB).