refinance

verb

re·​fi·​nance ˌrē-fə-ˈnan(t)s 

(ˌ)rē-ˈfī-ˌnan(t)s,

ˌrē-(ˌ)fī-ˈnan(t)s

refinanced; refinancing; refinances

transitive + intransitive

: to renew or reorganize the financing of something : to provide for (an outstanding indebtedness) by making or obtaining another loan or a larger loan on fresh terms

refinance a mortgage

With rates tumbling, pay a little more now and retain the flexibility to refinance again next year.

—Daniel Kadlec

Examples of refinance in a Sentence

Recent Examples on the Web

Last week the airline again delayed a deadline to refinance more than $1 billion in debt until late December, giving it breathing room with its credit card processor. —Leslie Josephs, CNBC, 25 Oct. 2024

Spirit’s efforts to restructure its debt and avoid bankruptcy stalled in recent months, according to Bloomberg, before the airline disclosed an agreement to extend a deadline to refinance its debt until Dec. 23. —Ty Roush, Forbes, 25 Oct. 2024

The carrier has until just before the end of the year to refinance $1.1 billion in secured bonds. —Chris Morris, Fortune, 23 Oct. 2024

Last year, the company refinanced existing debt and secured a $100 million revolving credit facility. —Kerry Flynn, Axios, 21 Oct. 2024

Word History

First Known Use

1995, in the meaning defined above

Legal Definition

refinance

1 of 2 transitive verb

re·​fi·​nance ˌrē-fə-ˈnans, -ˈfī-ˌnans 

1

: to renew or reorganize the financing of

2

: to revise the terms of (a debt obligation) especially in regard to interest rate or payment schedule

refinance a mortgage

intransitive verb

: to finance something anew

refinance

2 of 2 noun

: a financing of something anew

especially : a revision of the terms of a debt obligation (as a mortgage)