Advance Refunding:

A method of eliminating a bond as an obligation of the issuer. This is accomplished by issuing a new bond issue and using the proceeds to purchase government obligations which will be escrowed and used to provide debt service until maturity of the original issue ( escrowed to maturity) or until the first call date ( prerefunded to the call). Also see Defeased Bonds.


An IOU or promissory note of a corporation, municipality, or the US government, usually issued in multiples of $1,000 or $5,000, with maturities of more than 10 years.


Any of the company’s securities or the act of distributing such securities.


The organization issuing or proposing to issue a security.

Debt Service:

The yearly amount of debt service and principal payable on a bond issue.


Money or securities held by a third party until conditions of a contract are met.


The date on which a loan or a bond comes due and is to be paid off.


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Learn more about finance terms at Investopedia

Categories: Finance


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