The Refunding Provision of an Indenture Allows Bonds to Be

question 39

Multiple Choice

The refunding provision of an indenture allows bonds to be retired EXCEPT if

• A) they are replaced with a lower coupon bond issue.
• B) the remaining time to maturity is less than five years.
• C) the remaining time to maturity is greater than five years.
• D) the stated time period in the indenture has not passed.
• E) the stated time period in the indenture has passed.

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