Question: Explain the difference between the following: non-callable Vs non-refundable feature in corporate bonds cash-out refinancing Vs rate-and-term refinancing secure Vs unsecured corporate bonds

Explain the difference between the following:

  1. non-callable Vs non-refundable feature in corporate bonds
  2. cash-out refinancing Vs rate-and-term refinancing
  3. secure Vs unsecured corporate bonds

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