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

JOINT ACCOUNT is a financial account owned by two or more persons who share equally in the rights and liabilities of the account.

RESTATE see RESTATEMENT OF FINANCIALS.

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