Refunding

The redemption of a bond with proceeds received from issuing lower-cost debt obligations ranking equal to or superior to the debt to be redeemed.

Similar financial terms

Stopping curve refunding rate
A refunding rate that falls on the stopping curve.

Net advantage of refunding
The net present value of the savings from a refunding.

Low-coupon bond refunding
Refunding of a low coupon bond with a new, higher coupon bond.

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Did you know?

Liquidity risk

The risk that arises from the difficulty of selling an asset. It can be thought of as the difference between the "true value" of the asset and the likely price, less commissions.


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