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Senior Bond

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Senior Bond
A bond that has higher priority compared to another in the event of liquidation. That is, if a company goes bankrupt and is liquidated, holders of a senior bond must be paid before holders of junior debt. It is a type of senior security. See also: Absolute priority rule.

Senior bond. Senior bonds offer slightly lower interest rates than subordinated or junior bonds because they are considered less risky.

A senior bond has priority in interest payments, and if a bond issuer defaults, or runs into difficulty paying off debt, holders of senior bonds have a prior claim in receiving whatever monies are available.
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