Reopening

The article may contain affiliate links from one or more partners. Learn how we make money to continue our financial wellness mission.

The auction of an additional amount of an unmatured security. A security sold at a reopening has the same maturity date and interest rate it had when originally issued. The purchase price and yield are determined at the reopening. Investors who buy a reopened security will oweaccrued interest, unless the security is sold at a discount and the discount offsets the accrued interest.