Business and Personal Finance Dictionary

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• SENIOR DEBT
  
  Debt which, in the event of liquidation, must be repaid before subordinated debt receives any payment. Also see Junior Debt. A senior debt issue ranks before other issues in terms of claims on assets in the event of a company break-up. For example, senior bonds rank before junior bonds, which rank before senior debentures, which rank before junior debentures, etc.
  
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