Refunding

Business / Finance / Refunding: Redeeming a bond with proceeds received from issuing lower-cost debt obligations with ranking equal to or superior to the debt to be redeemed.

Prerefunding

Business / Finance / Prerefunding: Procedure of floating a second bond at a lower interest rate in order to pay off the first bond at the first call date and to reduce overall borrowing costs. MORE

Advance Refunding

Business / Finance / Advance Refunding: In the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the first call date of old bonds (the issue to be refunded). The refunding issue usually specifies a rat MORE

Low-Coupon Bond Refunding

Business / Finance / Low-Coupon Bond Refunding: Refunding of a low-coupon bond with a new, higher-coupon bond. MORE

Stopping Curve Refunding Rate

Business / Finance / Stopping Curve Refunding Rate: A curve showing the refunding rates for different times at which the expected value of refunding immediately equals the expected value of waiting to refund. MORE

Net Advantage Of Refunding

Business / Finance / Net Advantage Of Refunding: The net present value of the savings from a refunding. MORE

High-Coupon Bond Refunding

Business / Finance / High-Coupon Bond Refunding: The highest (intraday) price of a stock over the past 52 weeks, adjusted for any stock splits. MORE

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