unsecured liability

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Unsecured Liability

A debt or other liability that is not secured by an asset or lien, but rather by the all issuer's assets not otherwise secured. This means that an unsecured liability carries no collateral; in case of bankruptcy, the bondholder is considered a general creditor. Thus, the bondholder is paid out of funds that do not have a prior claim on them with a secured debt. Like most bonds, an unsecured bond is tradeable. Some unsecured bonds, such Treasury securities, are considered risk-free.

unsecured liability

A liability for which no specific collateral is held by a creditor. Essentially, payment on an unsecured liability is assured by the promise of the borrower.
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Another option available to you might be an unsecured card.
Net proceeds together with borrowings under the company's new unsecured USD2.0bn term loan facility and new unsecured USD3.0bn revolving credit facility that closed on 9 July 2019, as well as available cash on hand, will be used by the company to refinance some of its and TSYS' outstanding debt.
If the borrower goes for an unsecured line of credit, the lender is obviously taking greater risk, as there is nothing they can sell to recover their money in case of default.
The company intends to use the net proceeds from the offering to fund the (i) repurchase of portions of the company's 4.000% senior unsecured notes due 2022 and 4.250% senior unsecured notes due 2023 pursuant to the tender offers announced separately today, and (ii) redemption of all of the company's USD 800 million 2.625% senior unsecured notes due February 2020 (the "2020 Notes") prior to their stated maturity date, and in each case, to pay accrued interest and related fees, premiums and expenses in connection therewith.
The downgrade of BoC`s long-term senior unsecured debt programme rating to `CCC`, two notches below the bank`s Long-Term Issuer Default Rating (IDR) of `B-`, reflects Fitch`s view that "recovery prospects for the bank`s senior unsecured creditors are now poor following the adoption of full depositor preference.
PwC said this brings the total return to Powertrain's unsecured creditors to 39.74p over four payments totalling PS43.7m.
The final note rating is equalized with the Long-Term Issuer Default Ratings (IDRs) of Avation PLC and Avation Capital S.A., as well as the rating of Avation Capital S.A.'s unsecured notes.
The online platform has reached this milestone in 49 months, since its inception in early 2014, with a year-on-year growth of over 170% for unsecured loans.
Currently, there is a significant growth in the issuance of unsecured consumer loans in the retail lending market, according to the official.
(NYSE: CCK) has priced its offerings of three senior unsecured notes.
It comes as figures show the unsecured debt mountain has topped PS200billion, fuelled by low interest rates.
The interest rate is currently 140 basis points over LIBOR, subject to adjustment on a sliding scale based on the company's unsecured debt ratings, or at the company's option, a defined leverage ratio.