1.   That makes a difference when it comes to refinancing the bonds, or locking in lower payments when bond Market rates fall.

2.   Also, investors stand to gain when the state agency refinances the bonds it inherits from Lilco.

3.   States and localities refinance their bonds to take advantage of favorable interest rates, as home owners do with their mortgages.

4.   States and localities refinance their bonds, much as homeowners do, to take advantage of favorable interest rates.

5.   Though Perelman would probably have preferred to refinance the bonds, current weakness in the junk bond market would make that difficult.

6.   To pay off the bonds, Marvel would have had to sell assets, refinance the bonds or taken other costly actions.

7.   To pay off the bonds, Marvel would have had to sell assets, refinanced the bonds or taken other costly actions.

8.   Yet the largest Brazilian banks, such as Bradesco and Banco Itau S.A., continued to refinance government bonds much as they had done during the last several decades.