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Refunding Bond
(redirected from Refunding Bonds)

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Refunding Bond
A bond that retires another bond before the first bond matures. A company may issue a refunding bond for a number of reasons, but mainly because of a decline in interest rates, which reduces the cost of funding. Refunding bonds deprive bondholders of the first bond from future coupon payments to which they would otherwise of have been entitled. Most bonds are nonrefundable for at least five or 10 years after issue, but a refunding bond may be issued afterward.
refunding bond
A bond that is issued for the purpose of retiring an outstanding bond. Issuers refund bond issues to reduce financing costs, eliminate covenants, and alter maturities. See also crossover refunding bonds, prerefunding.
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today announced the issuance of two series of collateralized revenue refunding bonds by two governmental authorities on behalf of CenterPoint Energy Houston Electric, LLC, CenterPoint Energy's electric transmission and distribution subsidiary.
CenterPoint Energy Subsidiary Announces Issuance of Two Series Of ... by PR Newswire
Advance Refundings An advance refunding occurs when the refunded bonds are retired more than 90 days after the refunding bonds are sold.
Understanding current and advance refundings by Jordan, Larry / Government Finance Review
NEW YORK -- Fitch Ratings withdraws its 'AA-' long-term rating for the following Houston, TX water and sewer systems bonds because they have been prerefunded: --Junior lien revenue forward refunding bonds series 2002B; --Junior lien revenue refunding bonds series 1999A; --Junior lien revenue refunding bonds series 2000B; --Junior lien revenue refunding bonds series 2001B; --Junior lien revenue refunding bonds series 2002A; --Prior lien revenue bonds series 1984.
Fitch Withdraws Various Houston, TX Water & Sewer Systems Bond Ratings by Business Wire
 
 
 
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