defeasance

(redirected from Advance refunding)
Also found in: Thesaurus, Legal, Financial.
Related to Advance refunding: Pre-Refunding

de·fea·sance

 (dĭ-fē′zəns)
n.
1. A rendering void; an annulment.
2.
a. The voiding of a contract or deed.
b. A clause within a contract or deed providing for annulment.

[Middle English defesaunce, from Anglo-Norman, from Old French defesance, from defesant, present participle of desfaire, to destroy; see defeat.]

defeasance

(dɪˈfiːzəns)
n
1. (Law) the act or process of rendering null and void; annulment
2. (Law)
a. a condition, the fulfilment of which renders a deed void
b. the document containing such a condition
[C14: from Old French, from desfaire to defeat]

de•fea•sance

(dɪˈfi zəns)

n.
1. a condition rendering a deed or other instrument void.
2. a document stipulating such a condition.
[1400–50; Old French defesance <desfes- (past participle s. of desfaire to undo; see defeat)]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Translations
défaisance
References in periodicals archive ?
Issuers have saved substantial sums over time through the use of advance refunding, which freed up capital to use for other infrastructure needs.
A current refunding bond redeems the prior bond within 90 days, whereas an advance refunding bond is issued more than 90 days prior to the redemption of the prior bond.
More broadly, the elimination of tax-exempt advance refunding bonds will modestly limit financial flexibility but is not expected to have a significant effect on municipal issuers' credit quality.
On the flip side, muni bond supply could decrease because starting next year advance refunding bonds will no longer be eligible for a federal tax exemption.
First, both the House and Senate proposals would effectively eliminate "advance refunding" of tax-exempt bonds.
One such practice is advance refunding. Richard Green, Yuhang Xing, and I show that advance refunding led to $7 to $9 billion of lost value over 1995 to 2013.
Unlike the typical advance refunding transaction where the new bond issue has a fixed interest rate, LIBOR-based advance refunding transactions have an underlying variable rate yield.
"Advance Refunding and Debt Management." Hearings before the Committee on Finance.
The alphabetically arranged entries provide concise definitions of terms such as insider trading, coterminous debt, reinvestment risk, convertible security, and advance refunding. The volume concludes with a list of acronyms and the addresses of some relevant websites.
Advance refunding occurs when issuers refinance outstanding bonds before the original bonds mature or are callable to achieve interest rate savings and to extinguish old debt.
These include arbitrage relief and support for advance refunding legislation (S.

Full browser ?