Series 50: Tender Options

Taken from our Series 50 Online Guide

Tender Options

A tender option bond, sometimes referred to as an optional tender, is a bond that provides the bondholder with the right to surrender the bonds to the issuer at a predetermined price (usually par). The dates within which the bond may be tendered are exclusively designated by the issuer. Tender offer bonds are typically issued when outstanding bonds are ineligible for an advance refunding, either because they have already been refunded once or do not otherwise qua

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