Definitions for "Refunding"
The issuance of a new bond issue for the purpose of retiring an outstanding bond issue.
A redemption with funds raised through the sale of a new issue.
The process by which an issuer sells bonds to eliminate some of its other debt. The proceeds of the new issue are used to pay the interest and principal of the older issue. This is generally done to lower the interest costs of the issuer.
Keywords:  rcpc, check, center, regional, bank
Regional bank Regional Check Processing Center (RCPC)