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
Flow of Funds
A term referring to the order of priority of the receipt, deposit, transfer and application of revenues in the funds and accounts created in an indenture or a bond resolution and may also refer to a document prepared by an underwriter or municipal advisor to show the sources and deposits at the closing.