Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
The gradual maturity of a serial bond. A serial bond is an issue of bonds that gradually matures at regular intervals until the whole issue matures. The serial redemption feature of these bonds is most useful in the financing of a project with regular income streams with which to pay off the serials. Serial bonds (and therefore serial redemption) are more common among corporate bonds than municipal bonds.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved