Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Refunded Bond
Outstanding Bonds which are paid off with all or a portion of the proceeds of Refunding Bonds.
See Also
In Contrast With
Refunding Bond
Bonds issued in a refunding to pay off the refunded bonds.
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Hundreds of Terms and Concepts
Direct Pay Bond
A taxable bond that offers a federal Interest subsidy to the Issuer in lieu of the interest being excludable from federal income tax.