Business / Loan / Subordinated Debt (Junior Debt): Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debt-holders receive payment only after senior debt is paid in full. A subordination of security interest in property allows another creditor to have the rights to the proceeds of the sale of that property before the claim of the subordinated creditor.
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Debt Adjective Synonyms: obligation, due, indebtedness, liability, responsibility, accountability, encumbrance
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Business / Finance / Long-Term Debt: Total of all debt due after one year including bonds at face value. MORE
Business / Loan / Long Term Debt: Financing used to purchase or improve assets such as plant, facilities, large equipment and real estate. MORE
Business / Finance / Level Debt Service: A municipal charter provision that debt payments must be relatively equal from year to year so that required revenue projections are easier. MORE