REFUNDING Definition

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REFUNDING is redeeming a bond with proceeds received from issuing lower-cost debt obligations with ranking equal to or superior to the debt to be redeemed.

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RECOURSE NOTE is a note where the default may result in loss of collateral and also personal suit and judgment. Most notes are recourse notes.

COMMON EQUITY is the result of subtracting redeemable and non-redeemable preferred stock from total equity.

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