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

Refunding

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

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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Bond Insurance (Policy)

A financial guaranty insurance policy provided by a bond insurer which pledges to make scheduled payments of interest and principal of a bond issue in the event the issuer is unable to make those payments on time.