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.

Market tickertape. Source: Ahmad Ardity.

Allow Communities to Refinance

Reinstating tax-exempt advance refunding bonds will allow our communities to refinance outstanding debt and achieve greater savings for taxpayers.

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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.

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Hundreds of Terms and Concepts

The party, often called a conduit borrower or conduit obligor, borrowing bond proceeds from the issuer and, in such case, is responsible for making interest payments and repaying principal of the bonds as it becomes due.

Advance Refunding

Allow Communities to Refinance

Refunding

Current Refunding

Start with the Bond Basics

Hundreds of Terms and Concepts

Borrower

Other Terms

Borrower’s Counsel

Variable Interest Rate

Subordinate Lien Bonds