Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
Bonds issued in a Refunding. The proceeds of the Refunding Bonds are used to pay off the Refunded Bonds.
See Also
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
In Contrast With
Outstanding bonds which are paid off with all or a portion of the proceeds of refunding bonds.
The interest rate on a bond which varies according to a formula set forth in the bond or the indenture or bond resolution/ordinance or based on the interest rate required by a remarketing agent to remarket the bonds at par.