Senior Security
A security (usually debt) that, in the event the issuer goes bankrupt, must be repaid before other creditors receive any payment. Investopedia Says:
In the event of liquidation, senior debtholders have seniority and are repaid before the junior debt.
This is also known as "unsubordinated debt". Related Terms:
Absolute Priority
Bankruptcy
Bond
Junior Security
Liquidation
Preferred Dividend
Subordinated Debt
Unsubordinated Debt |