- CFA Exams
- General Forum
- Topic: bond: call vs refund
|Author||Topic: bond: call vs refund|
|What's the difference between refunding and call?
How can a bond be nonrefundable but callable?
|A bond can be called by the issuer based upon the call provisions in the indenture but may not be refunded by issuin debt at a lower rate than the current issue as per the debt covenant.|