Revenue Anticipation Note - RAN

Revenue Anticipation Note - RAN

A short-term debt security issued on the premise that future revenues will be sufficient to meet repayment obligations.

Notes:

RANs are generally used to generate immediate investment capital to begin a large project. These securities are repaid with future expected revenues from the completed project, which may come from sources like turnpike tolls or stadium ticket sales.

See also: Bond, Bond Anticipation Note - BAN, Construction Loan Note - CLN, Fixed-Income Security, Tax Anticipation Note - TAN