Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• SUBORDINATE DEBENTURES
  
  A type of corporate bond for which the indenture covenants provide that some of the company's debt has a lower priority than other debts in the event of a liquidation. For example, some bonds may be subordinate to others. Subordinate bonds are usually unsecured. Unsecured subordinate bonds may be referred to as subordinate debentures.
  
  Back