Junior issue

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Junior issue

A debt or equity issue from one corporation over which the issue of another firm takes precedence with respect to dividends, interest, principal, or security in the event of liquidation.

Junior Issue

A security that has a lower priority compared to another in the event of liquidation. That is, if a company goes bankrupt and is liquidated, holders of secured debt must be paid before the holders of unsecured debt. Holders of unsecured debt must be paid before preferred shareholders, and finally, preferred shareholders must be satisfied before common shareholders. In the forgoing, each security is a junior issue compared to the previous one. See also: Absolute Priority Rule.
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Dos Rios Partners is a Texas-based private equity group formed to invest in junior securities of proven, growing niche businesses with approximately USD 2 -- USD 12m in EBITDA, generally alongside strong, motivated sponsors and management teams.
For the affirmed junior securities ratings, the rationale for the
The senior notes also contain a replacement capital covenant that will prevent the company from purchasing any of its junior securities without the advance written consent of the holders of a majority of the senior notes by principal amount, unless such purchase is funded with proceeds from the issuance of new junior securities.
Volkswagen plans to sell A$433mn of senior notes with a 1.38-year average life and A$26mn of junior securities with a 2.39-year average life, according to the company's website.
The hybrid notes rank pari passu among themselves and they will also be junior to MAF's junior securities. There is no look-back provision in the notes' documentation, which gives the issuer full discretion to defer on-going coupon payments on the notes.
I began my in-house career as a junior securities lawyer at Time Warner in the corporate office--an ideal in-house position.
The Vancouver Stock Exchange (VSE) and the Alberta Stock Exchange (ASE) merged to create the Canadian Venture Exchange (CDNX) in Vancouver, which trades only in junior securities. All senior equities are now traded at the Toronto Stock Exchange (TSE); and after 125 years in operation, the oldest stock exchange in Canada, the Montreal Exchange, has become the exclusive derivatives market in Canada.
Myers and Majluf (1984) present a model in which asymmetry of information can lead a manager (who acts in the interests of all shareholders) to be unwilling to issue junior securities if those securities are undervalued in the public market.
The subordination of the junior securities is an additional form of credit enhancement of the senior securities.
Smith (1986) documents negative stock price reactions to security offering announcements by industrial companies and that the reactions are more negative for the offering announcement of more junior securities, i.e., common stock.
Dos Rios Partners is a private equity group formed to invest in junior securities of proven, growing niche businesses with approximately USD 2 -- USD 12m in EBITDA, generally alongside strong, motivated sponsors and management teams.
systemic support for the banks' junior securities. It does not reflect

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