Municipality issued bonds issued intended to gain an interest rate advantage by refunding a higher-rate bond in ahead of their call date . Lower-rate refunding issue proceeds are invested in Treasuries until the first call date of the higher-rate issue .
ARBITRAGE BONDS
Meaning of ARBITRAGE BONDS in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012