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Refunding Escrow Deposits

Refunding Escrow Deposits Definition

Refunding Escrow Deposits - REDs means a financial instrument involving a forward purchase contract that creates an obligation to buy a particular bond at a specified rate when issued. In the interim, the investors' money is held in an escrow account and used to buy Treasury securities. The Treasuries mature around the call date on an existing high-rate bond, providing the money to be invested into the new bond issue and redeem the old bond.







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