A call provision in a municipal bond indenture that establishes the right of redemption for the issuer on any interest payment due date.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A provision in some municipal bonds giving the issuer the right to redeem a bond before maturity on any date that the issuer owes coupons to bondholders.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved