refund business definition
- To retire securities with the funds that have been raised through the sale of a new security issue. Refunding usually occurs after a period of falling interest rates, when firms issue new debt in order to retire existing debt having high coupon rates of interest. Also called refinance. See also call provision, nonrefundable 1, prerefunded bond.
- To return money to a customer who returns a good or is dissatisfied with a purchase.
- To return to a taxpayer excess taxes that have been paid.
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