Meaning of “refunding bonds” in the English Dictionary

business-english dictionary

"refunding bonds" in Business English

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refunding bondsnoun [ plural ]

uk us STOCK MARKET

new bonds that replace old bonds that have matured (= been paid back), and that may be sold for cash or exchanged for the older bonds:

The Fund may also invest without limit in advance refunding bonds.

(Definition of “refunding bonds” from the Cambridge Business English Dictionary © Cambridge University Press)