NONREFUNDABLE BOND Definition

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NONREFUNDABLE BOND is a bond issue that cannot be redeemed for a stated period of time using the proceeds from a new, lower-cost issue to finance the refunding. The bond can still be called without a refunding, but the company must use internal capital or equity funds to retire the issue. This provides some protection to the bondholder if interest rates decline significantly.

Learn new Accounting Terms

GENERAL OBLIGATION BOND (GO) is a municipal bond that represents the full taxing power of the issuing authority behind the repayment of principal and interest.

TAX LOSS CARRY FORWARD/BACKWARD is a tax benefit that lets a company or individual to deduct losses in order to reduce a tax liability.

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