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Subordinate Debt |
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See Junior debt. Subordinate Debt A class of debt that, in the event of insolvency, is prioritized lower than other classes of debt. The most common kind of subordinate debt is an unsecured loan, which has no collateral. Another kind of subordinate debt is a secured loan in which another loan has priority on the collateral; a second mortgage is an example of a secured subordinate debt. This class of debt carries higher risk but also pays higher interest than other classes. It is also called junior debt. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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