Refunding : The use of new bond issue to replace an existing bond issue either to decrease the annual debt service requirements of the issuer or to alter the restrictions included in the Indenture of the issue being refunded
Ilan Kelman (ed.), Vulnerability and Resilience Definitions and References, Version 2, 2007. http://www.islandvulnerability.org/docs/vulnres.pd f, (Vulnr and Resilience - Brit) {524}