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.
Tax-exempt bonds violating yield restrictions imposed by Section 148 of the Internal Revenue Code (IRC) and Treasury Regulations promulgated thereunder.