In the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the first call date of old bonds (the issue to be refunded). The refunding issue usually specifies a rate lower than the issue to be refunded, and the proceeds are invested, usually in government securities, until the higher-rate bonds become callable. S...
Found on
http://www.duke.edu/~charvey/Classes/wpg/bfglosa.htm
In the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the
Found on
http://www.encyclo.co.uk/local/22402
No exact match found.
