The process by which an issuer calls bonds with a high coupon and reissues new bonds with a lower coupon is referred to as

The process by which an issuer calls bonds with a high coupon and reissues new bonds with a lower coupon is referred to as

The process by which an issuer calls bonds with a high coupon and reissues new bonds with a lower coupon is referred to as 





A) refinancing
B) refunding
C) reissuing
D) redeeming










Answer: B