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Advance Refunding Calculator

The Bond Buyer and Andrew Kalotay Associates jointly offer online subscribers a refunding calculator designed to help issuers make decisions related to advance refunding deals by factoring in the value of the call option embedded in their existing deals. Based on Kalotay's proprietary valuation algorithms and supported by data from Mergent Technologies and Municipal Market Advisors, the calculator allows issuers or their professional advisors to retrieve real bonds, and evaluate the attractiveness of various refunding scenarios.