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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DEFEASANCE CLAUSE is the clause in a mortgage that permits the mortgagor to redeem his or her property upon the payment of the obligations to the mortgagee.

MULTINATIONAL is involving or operating in several nations or nationalities (Example: Multinational corporations).

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