bond anticipation note

(redirected from Bond Anticipation Notes)

Bond anticipation note (BAN)

A short-term debt instrument issued by a state or municipality to borrow against the proceeds of an upcoming bond issue.

Bond Anticipation Note

A short-term note, usually but not always issued by a municipality, used to finance some project. BANs are often issued with a maturity of one year or less; the proceeds are paid by the issue of a larger bond with a longer maturity. A construction loan note, in which a city finances private construction, is an example of a bond anticipation note. See also: IDC, RAN.

bond anticipation note (BAN)

A short-term municipal security that has its principal repaid from the proceeds of a long-term municipal bond issue that is sold at a later date. Essentially, BANs represent debt that is used until long-term funding is available.
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The rating service at the same time gave its SP-1+ short-term rating to the city's bond anticipation notes and affirmed the A+ long-term rating on its general obligation (GO) bonds.
NEW YORK -- Fitch Ratings affirms the 'F1+' rating assigned to the City of Charlotte, North Carolina, $150,000,000 General Obligation (GO) Commercial Paper Bond Anticipation Notes, Series 2005 (the 'Notes').
NEW YORK -- Fitch Ratings assigns an 'F1+' short-term rating to Nassau County, New York's (the county) approximately $100 million general obligation (GO) bond anticipation notes (BANs), 2007 series A.
NEW YORK -- Fitch Ratings assigns a rating of 'F1+' to the $125,000,000 Boston Water and Sewer Commission (Massachusetts), tax-exempt commercial paper bond anticipation notes, series A.
NEW YORK -- Fitch assigns an 'F1+' rating to $600 million New York City Transitional Finance Authority (TFA) general capital purpose bond anticipation notes (BANs), fiscal 2007 series 1, to be sold competitively on Nov.
Roughly $16 million in bond anticipation notes (BANs) will be issued later this month to acquire a tract of land adjacent to FAU for the project.
SAN FRANCISCO -- Fitch rates King County, WA's $53,000,000 Limited Tax General Obligation Bond Anticipation Notes 2006, Series A and $31,445,000 Limited Tax General Obligation Bond Anticipation Notes 2006, Series B 'F1+'.
CHICAGO -- Fitch Ratings assigns an 'F1+' rating to Lucas County, Ohio's (the county) $4,915,000 various purpose improvement notes, general obligation (GO) limited tax bond anticipation notes (BANs), series 2006-1, which are scheduled for competitive sale on Sept.
NEW YORK -- Fitch Ratings assigns its 'F1+' short-term rating to The Buffalo Fiscal Stability Authority's (BFSA or the authority) $60 million bond anticipation notes (BANs), series 2006A-1.
Proceeds will refinance outstanding bond anticipation notes issued to finance energy conservation improvements to various county buildings.