Refunding

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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.

Refunding

The act or practice in which a company repays a bond by making a new issue of another bond. That is, a company refunds a bond when it borrows more money to repay the money it already owes to bondholders. One may think of refunding as the company refinancing a bond.
References in periodicals archive ?
Exhibit 2: DeKalb County's Bond Ratings General Obligation Existing 2013 Issue Moody's Investors Service Aa3/Neg Aa3/Stable Fitch Ratings AA-/Stable Water and Sewer Existing 2013 Issue Standards & Poor's AA-/A+ AA-/A+ Moody's Investors Service Aa3/Stable Aa3/Stable Fitch Ratings AA-/Stable Exhibit 3: Final Results of DeKalb County's Bond Refunding Issuing Entity Refunding Par Realized NPV Savings DeKalb County $52,445 million $5,214,246 General Obligation 9.
The Fund is continuing work regarding bond refunding transactions for the two remaining bonds that have not yet been refunded.
8 million in cashflow savings resulting from the bond refunding through fiscal 2012.
Fannie Mae also is providing liquidity support for the four weekly variable rate demand bond refunding issues.
If the bond refunding transaction is complete this year, it will reduce 2005 earnings by about $0.
0 million bond refunding completed last year, will save PG&W over $1.
The 1996 bond refunding also stretches that issue's amortization by 10 years.
365 million tax- exempt bond refunding for three apartment communities.
Jay Rollins, senior vice president of Newman Financial Services and managing director of the Structured Products Group said, "The transaction played to all of SPG's strengths: structured financing, multifamily property type, and a bond refunding exit strategy.
NYSE: UDR) announced that it has completed tax exempt bond financings on Forestbrook Apartments in Columbia, South Carolina and Parkwood Court Apartments in Alexandria, Virginia and a tax exempt bond refunding on Laurel Ridge Apartments in Roanoke, Virginia.
The general obligation bond refunding and the water revenue refunding bond issue are two examples of our continuing efforts to keep the costs low of delivering water to the 17 million people we serve," Thomas said.