Crossover Refunding Bond

Crossover Refunding Bond

A bond that is issued to redeem another bond before maturity. It differs from other refunding bonds in that proceeds from a crossover refunding bond are held in escrow until the date at which the first bond is actually redeemed.
References in periodicals archive ?
New York: Issue: General Obligation Crossover Refunding Bonds, Series 2016A; Rating: Aa3; Rating Type: Underlying LT; Sale Amount: $2,775,000; Expected Sale Date: 03/28/2016; Rating Description: General Obligation