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A bond secured by an escrow fund of U.S. government obligations that is sufficient to pay off the entire issue of refunded bonds at maturity. The rating of the refunded bond generally assumes the rating of the government obligations (highest rating) at the time the fund is established. ... prerefunded bond; Prerefunding;
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financial-dictionary.thefreedictionary.com/prerefunded+...
financial-dictionary.thefreedictionary.com/prerefunded+bond
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Articles and insights on practice building, investments, and other topics for financial planners. ... Municipal bond issuers usually issue long-term bonds, often 20 to 30 years to maturity, to borrow the funds they need. Their cost to borrow these funds is the interest rate they have to pay to bond purchasers to sell the bonds.
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advisor.morningstar.com/articles/article.asp?docId=1583...
advisor.morningstar.com/articles/article.asp?docId=15837
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Opting to stay clear of the credit considerations associated with municipal bonds, safety-conscious investors have stuck with Treasury Bills and Notes. If you are one of those people, you may be interested in an alternative opportunity: Pre-refunded Municipal Bonds.
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www.allbusiness.com/north-america/united-states-califor...
www.allbusiness.com/north-america/united-states-california-metro-areas/465222-1.html
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Product overview for Municipal Bonds. ... Municipal bonds are debt obligations issued by states, cities, counties and other public entities who use the loans to fund public projects such as the construction of schools, hospitals, highways, sewers and universities.
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personal.fidelity.com/products/fixedincome/pomuni.shtml
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KURT GUTFREUND, the president of a Chicago company that makes children's clothing, is like many other bond buyers. He doesn't like to take risks, and he puts a high priority on yield. ... So why did Mr. Gutfreund recently sell $250,000 of triple-A municipal bonds, bought just two years ago and carrying a coupon yield of 6...
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www.nytimes.com/1996/03/24/business/investing-it-a-litt...
www.nytimes.com/1996/03/24/business/investing-it-a-little-known-strategy-for-bond-buyers.html
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Municipal bonds, in particular, have garnered a lot of interest. There is risk of default when it comes to them, but these defaults have been very rare. ... History suggests that it’s better to own bonds by a state instead of by an obscure town or sewer authority; the government is unlikely to let an entire state’s...
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seekingalpha.com/article/126835-insulating-your-portfol...
seekingalpha.com/article/126835-insulating-your-portfolio-with-the-pre-refunded-bond-etf
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Prerefunded bonds are corporate or municipal bonds, usually AAA rated, whose repayment is guaranteed by money raised from a second bond issue. Proceeds from the secondary issue are usually invested in safe US Treasury issues.
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www.lightbulbpress.com/00clients/topics/Investing/Bonds...
www.lightbulbpress.com/00clients/topics/Investing/Bonds/mi96/mi96.html
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Upon the retirement of the outstanding indirect general obligation bonds, the same indirect commitment, such as a lease agreement or a reserve fund, that supported the prior issue, may support the refunding obligation...
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cfr.vlex.com/vid/120-prerefunded-escrowed-secured-type-...
cfr.vlex.com/vid/120-prerefunded-escrowed-secured-type-19620519
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Right now the municipal bond market is a great place to invest and specifically prerefunded municipal bonds are a great deal right now. Learn from Tom Dyson how you can profit from the municipal bond market. ... It's called a "prerefunded municipal bond." These bonds are a great deal right now... Let's say a state...
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www.dailywealth.com/archive/2008/nov/2008_nov_17.asp
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