Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
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
Current Refunding
A refunding in which all refunded Bonds are redeemed within ninety days of the issuance of the refunding bonds.
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Hundreds of Terms and Concepts
Mandatory Sinking Fund Redemption
A type of redemption that applies specifically to bonds issued as term bonds provided in the bond resolution/ordinance and/or an indenture, pursuant to which an issuer or a conduit borrower is required to retire a specific amount of the outstanding principal of the term bond by redemption on specific dates.