Refunding (Crossword)

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Definitions of “Refunding”
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• Redeeming a bond with proceeds received from issuing lower-cost debt obligations with ranking equal
• A system by which a bond issue is redeemed by a new bond issue under conditions generally more favorable to the issuer
• Redeeming a bond with proceeds received from issuing lower-cost debt obligations with ranking equal to or superior to the debt to be redeemed
• 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

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