Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Current Refunding
A Refunding in which all Refunded Bonds are redeemed within ninety days of the issuance of the Refunding Bonds.
See Also
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.
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Hundreds of Terms and Concepts
Escrow Trustee (Agent)
The custodian of funds held in the escrow fund and responsible for holding and managing the escrow fund, including any investments in the escrow fund, up to and including the date when the refunded bonds mature or redeemed, whichever is earlier.