Definition for : Refinancing

A "refinancing" for a loan (and a "refunding" for a Bond) describes a process whereby a borrower (issuer) refinances all or part of its then outstanding loan (Bond) arrangements (I.e. enters into new funding arrangements or simply "roll-over" existing ones).

(See Chapters Chapter 21 Other debt products and Chapter 22 Shares of the Vernimmen)

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