Revenue Anticipation Note (RAN)
A short-term debt security issued on the premise that future revenues will be sufficient to meet repayment obligations. Investopedia Says:
RANs are generally used to generate immediate investment capital to begin a large project. These securities are repaid with future expected revenues from the completed project, which may come from sources like turnpike tolls or stadium ticket sales. Related Terms:
Bond
Bond Anticipation Note - BAN
Construction Loan Note - CLN
Fixed-Income Security
Tax Anticipation Note - TAN |