refunding
21Crossover Refunding — A local government s issuance of new municipal bonds (called refunding bonds) in which the proceeds of the refunding bonds are placed in escrow and used to make debt service payments on the refunding bonds until the call date of the original… …
22Advance Refunding — 1. A bond issuance used to pay off another outstanding bond. The new bond will often be issued at a lower rate than the older outstanding bond. 2. A bond issuance in which new bonds are sold at a lower rate than outstanding ones. The proceeds are …
23advance 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 rate lower than the issue to be refunded, and the …
24Pre-Refunding Bond — A type of bond issued to fund another callable bond, where the issuer actually decides to exercise its right to buy its bonds back before the scheduled maturity date. The proceeds from the issue of the lower yield and/or longer maturing pre… …
25pre-refunding — ( pre re) The sale of bonds used to obtain funds that are then placed in escrow to back bonds previously issued. The first issue typically comprises bonds that were originally issued at high, fixed coupon rates and that could not be called when… …
26Net advantage of refunding — The net present value of the savings from a refunding. The New York Times Financial Glossary …
27Stopping curve refunding rate — A refunding rate that falls on the stopping curve. The New York Times Financial Glossary …
28net advantage of refunding — The net present value of the savings from a refunding. Bloomberg Financial Dictionary …
29stopping curve refunding rate — A refunding rate that falls on the stopping curve. Bloomberg Financial Dictionary …
30high-coupon bond refunding — Replace a high coupon bond with a new, lower coupon bond. Bloomberg Financial Dictionary …