Serial bonds (and notes) mature at more than one date (often in series) and, thus, are usually repaid over a number of periods.
A serial bond is a bond issue in which a portion of the outstanding bonds mature at regular intervals until all of the bonds mature. Because the bonds mature gradually over time, they are utilized to fund projects that provide a steady income stream for bond repayment. The entire bond issuance is offered to the public on the same day, and the maturity dates are specified in the offering materials.
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