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 ?
Specifically, the new statement requires that, for current refundings and advance refundings resulting in debt defeasance reported by proprietary activities, the difference between the reacquisition price and the net carrying amount of the old debt be deferred and amortized as a component of interest expense in a systematic and rational manner over the remaining life of either the old or new debt, whichever is shorter.
NEW YORK, June 2 /PRNewswire/ -- The State of Florida, Orlando- Orange County Expressway Authority's $474 million Senior Lien Revenue Refunding Bonds, Series of 1993 are rated A-' by Fitch.
This article discusses current and advance refundings and explains the mechanics of refundings.
5 million taxable general obligation (GO) refunding bonds, series 2006, maturing 2006-2019.
Put in technical language, the proposed statement requires that, for current and advance refundings resulting in debt defeasance reported by proprietary activities, the difference between the reacquisition price and the net carrying amount of the old debt be deferred and amortized.
154,475,000 Orange County, California refunding recovery bonds 2005 series A;
86,525,000 refunding COPs 2005 series A (Administration Building Project);
Fitch Ratings assigns an underlying 'AA-' rating to approximately $261,700,000 Triborough Bridge and Tunnel Authority, NY (TBTA or the authority) subordinate revenue variable-rate refunding bonds, series 2002D that include approximately $65,000,000 in subseries 2002 D-1, $65,000,000 subseries 2002D-2 and $131,700,000 subseries 2002D-3 bonds.
15 billion Triborough Bridge and Tunnel Authority, NY (TBTA or the authority) general revenue (senior) refunding bonds, series 2002B that are scheduled to sell on or about Sept.
4 million refunding revenue bond offering, saving the district's ratepayers $17.
McGladrey & Pullen verified the mathematical accuracy of schedules provided to them by UBS Financial Services, underwriter for the refunding bonds, indicating the sufficiency of escrowed funds to pay remaining debt service obligations and redemption prices of the refunded bonds.