Refunded bond

Refunded Bond
Bonds that have their principle cash amount already held aside by the original issuer of the debt.

REFUNDED BONDS or REFUNDED ISSUE - See: PRIOR ISSUE.
REFUNDING - A procedure whereby an issuer refinances outstanding bonds by issuing new bonds.

Prerefunded bond
Refunded bond.
Prerefunding
Procedure of floating a second bond at a lower interest rate in order to pay off the first bond at the first call date and to reduce overall borrowing costs.

Refunded bond
Also called a prerefunded bond, a bond that originally may have been issued as a general obligation or revenue bond but that is now secured by an escrow fund consisting entirely of direct U.S.

Crossover bonds are secured initially by the escrow of investments created from the crossover bond proceeds while the bonds to be refunded continue to be secured by the original revenue stream. On a specified date the refunded bonds are redeemed ...

See also: Proceeds, Refunding, Bonds, Revenue, Issue