Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
Outstanding Bonds which are paid off with all or a portion of the proceeds of Refunding Bonds.
See Also
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
In Contrast With
Bonds issued in a refunding to pay off the refunded bonds.
A bond whose owner is designated on records maintained for this purpose by a registrar, often the paying agent or trustee.