Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Current Refunding
A Refunding in which all Refunded Bonds are redeemed within ninety days of the issuance of the Refunding Bonds.
See Also
Advance Refunding
A type of refunding transaction in which the refunding bonds are issued more than 90 days before the redemption or final maturity, whichever is earlier, of the refunded bonds.
Start with the Bond Basics
Hundreds of Terms and Concepts
Default
Breach of a covenant, promise or duty imposed by the bond, bond resolution/ordinance, an indenture or other financing document.