Definition of Serial Bond
What is a Serial Bond
A serial bond is a bond of the same issue that has different maturities over several years. Segments of the outstanding bonds mature at regular intervals until all the bond segments have matured.
Each segment in the bond is issued concurrently with the repayment terms listed in the offering prospectus. This structure allows the issuer to retire the issue in small amounts over a long period of time.
Serial bonds are used to finance projects, commonly municipal-based, that provide a predictable and consistent income stream for bond repayment over time. Serial bonds do not utilize sinking funds as they rely on the revenue generated from the project that the bond is issued to fund.
GlobEx Markets Financial Dictionary of Terms, Phrases and Concepts
The GlobEx Markets financial dictionary is a reference resource that provides the definitions and explanations of various financial terms, phrases and concepts that are used in international finance and global investing. It includes a broad range of financial terms, such as those related to stocks, bonds, currencies, commodities, options, futures, crypto and much more.
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Related Investment Terms
Corporate Bond
Debenture
Municipal Bond
