fungible issue

Also found in: Financial.

fungible issue

(Banking & Finance) finance a bond issued by a company on the same terms as a bond previously issued by that company, although the redemption yield will probably be different

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References in periodicals archive ?

Unlike interest rate exposures which can be hedged with underlying fixed interest instruments, the essence of real estate is that it is not a fungible issue. Therefore it is impossible to create direct hedges on a scale that will support the growth of a market comparable to the interest rate model.

Spotlight on property derivatives

Ten-year Treasury bonds are currently issued under the fungible issue system to enhance liquidity, while the issuance of bonds with maturities of more than 10 years is being pursued.