New Money Bond

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New Money Bond

A mortgage revenue bond that is issued because the issuer has additional leeway to sell private activity bonds. That is, a new money bond is a mortgage revenue bond that would not be issued if the issuer lacked the statutory authority to do so. A new money bond is never a refunding bond.
References in periodicals archive ?
This scenario includes another anticipated $2.9 billion in new money bonds for the MOVE Illinois program with a majority borrowed at a 5.5% rate, which Fitch believes is a reasonable rate assumption.
The debt-for-equity swap will see the firm's long-term borrowings reduced from PS1.35bn to PS350m, alongside a new capital raise of PS150m funded by issuing new money bonds.
The debt-for-equity swap will see the firm's long-term borrowings reduced from PS1.35 billion to PS350 million, alongside a new capital raise of PS150 million funded by issuing new money bonds. As a result, New Look's annual interest payments will reduce from PS80 million to PS40 million and its borrowings have been extended to 2024, giving it breathing space.
The restructuring will mean the firm's long-term debt is reduced from PS1.35billion to PS350million, alongside a new capital raise of PS150million funded by the issuing of new money bonds.
In January this year the Philippines successfully returned to the global bond market with $2 billion in 10-year new money bonds.
Tenders are invited for senior managing underwriter or co-manager for theissuance of: new money bonds and revenue anticipation notes (rans) for the county.
The reduced interest rate environment of the early 1990s created opportunities to issue new money bonds as well as refinance debt issued in the 1980s.
Thirteen billion dollars in new money bonds have been issued for public and private sector funding.
The county has stated it has no plans for additional issuance, and it has not issued new money bonds backed by the PST in more than 10 years.
The issuance of these new money bonds is expected to occur before the end of calendar year 2014.
No additional new money bonds are permissible under the trust indenture.
The new money bonds will also be fixed rate, but with a 30-yr term.