Advance refunding

Advance Refunding
Advance Refunding definition :
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).

advance refunding
Government securities: exchange of maturing government securities prior to their due date for issues with a later maturity.

Advance Refunding
1. A bond issuance used to pay off another outstanding bond. The new bond will often be issued at a lower rate than the older outstanding bond.

ADVANCE REFUNDING - In the context of municipal bonds, refers to the sale of new bonds (the refunding i...
ADVANCE-DECLINE (A-D) LINE - The advance-decline line graphs the ratio of stocks that have risen in val...

Advance Refunding
A financing structure under which new bonds are issued to repay an outstanding bond issue prior to its first call date. Generally, the proceeds of the new issue are invested in government securities, which are placed in escrow.

ADVANCE REFUNDING - For purposes of certain tax and securities laws and regulations, a refunding in which the refunded issue remains outstanding for a period of more than 90 days after the issuance of the refunding issue.

[BEA] advance package advance refunding (A) The refunding of an outstanding issue of securities by the issuance and delivery of a new issue of securities prior to the date on which the outstanding issue of securities can be redeemed or paid in ...

advance refunding A method of paying off maturing bonds prior to their expiration date with newer bonds with a later maturation date. Advance Retail Sales - United States Monthly measure of sales of goods to consumers at retail outlets.

The advance refunding results in a credit upgrade due to the payoff of the existing bonds by new bonds with lower coupons.

Underwriters in advance refundings add large markups on US Treasury bonds bought and held in escrow to compensate investors while waiting for repayment of old bonds after issuance of the new bonds.

Municipal Bond financing practice whereby underwriters in Advance Refundings (Prerefunding) slap excessive Markups on U.S.

A pension plan in which funds are set aside in advance of the date of retirement.
Advance refunding ...

See also: Refunding, Call date, Escrow, Treasury bonds, Yield curve