What is VARIABLE RATE DEMAND OBLIGATION (VRDO)?

Debt security with floating interest rate adjusted regularly and redeemed when a rate changes. Also known as low floater, variable rate demand note, variable rate demand bond.

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Related Legal Terms
VARIABLE RATE DEMAND NOTE, VARIABLE RATE DEMAND BOND (VRDB), VARIABLE RATE DEMAND NOTE (VRDN), VARIABLE INTEREST RATE, FLOATING RATE NOTE (FRN), VARIABLE RATE, VARIABLE RATE MORTGAGE (VRM), RANGE FLOATING RATE NOTE (FRN), FIXED AND VARIABLE RATE ALLOWANCE (FAVR), FIXED-RATE BOND


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