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Prior-Lien Bond

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Prior-lien bond
A bond usually arising from reorganization with precedence over another bond of the same issuing company that is equally secured.
prior-lien bond
A bond with a priority claim over other bonds, both secured and unsecured, of the same issuer.
Prior-Lien Bond
A bond with precedence over other secured and unsecured bonds from the same issuer. Coupon payments are owed on these bonds before other bonds; in other words, prior-lien bonds will default after other bonds from the same issuer. These bonds are usually the result of a company reorganization,


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