bond-basics

Refunding Bond

Bonds issued in a Refunding.  The proceeds of the Refunding Bonds are used to pay off the Refunded Bonds.

See Also

Refunding

A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.

In Contrast With

Refunded Bond

Outstanding bonds which are paid off with all or a portion of the proceeds of refunding bonds.

Hudson Yards Rail Yards

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Variable Interest Rate

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.