| 释义 |
Senior refunding Senior refundingReplacement by the issuer of securities with 5-to 12-year maturities with securities of 15-year or longer maturities, in order to delay, reduce, or consolidate payment.Senior RefundingThe act of an issuer redeeming a bond by replacing it with a bond with a longer maturity. For example, a company may conduct a senior refund by redeeming its 10-year bonds and granting bondholders 30-year bonds. This is a useful tactic when a company wishes to delay payment or consolidate its debt. |