Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
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
In Contrast With
Refunded Bond
Outstanding bonds which are paid off with all or a portion of the proceeds of refunding bonds.
Start with the Bond Basics
Hundreds of Terms and Concepts
Defeasance
Termination of the rights and interests of the bondholders and release of liens on the security upon final payment of debt service or deposit of guaranteed payment in an irrevocable escrow fund.