Senior debt financial definition of senior debt #consolidating #loans

#senior debt


senior debt

Senior debt

Debt whose terms in the event of bankruptcy. require it to be repaid before subordinated debt receives any payment.

Senior Debt

A debt that has higher 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 holders of unsecured debt. In this case, the secured debt is senior debt with respect to the unsecured debt. It is a type of senior security. See also: Absolute priority rule .

senior debt

A class of debt that has priority with respect to interest and principal over other classes of debt and over all classes of equity by the same issuer. In the event of financial difficulties or liquidation of the borrower’s assets, holders of senior debt will have a priority claim. Most loans from financial institutions and certain high-grade debt securities such as mortgage bonds are senior debt. Because senior debt has a relatively secure claim, it is less risky from the point of view of the lender and it pays a lower rate of interest compared with debt of the same issuer having a subordinate claim. Compare junior debt .

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14, 2002, plus the senior debt and capital lease obligations to be assumed, and including estimated transaction costs.

8 million in HealthMont senior debt and capital lease obligations, and will take out a $3 million, three-year, term loan for additional working capital.

s $100 million of senior debt is raised to “A” from “BBB” by Fitch and its “F-2” commercial paper is raised to “F-1.

s ‘BBB’ $100 million of senior debt. ‘BBB’ senior debt shelf registration, and ‘F-2’ commercial paper are placed on FitchAlert with positive implications.

AMEX: AK) announced today that the company has completed a successful restructure of its senior debt .

Berkley Corporation’s (NYSE:BER) (Berkley’s) Issuer Default Rating (IDR) to ‘A-‘ from ‘BBB+’ and Berkley’s senior debt ratings to ‘BBB+’ from ‘BBB’.

s senior debt and MTN ratings and Commonwealth General’s medium-term note ratings at ‘AA-‘.

Imperial” or “the Company”)(OTCBB:IPMN), announced that it has completed the post closing of its sale of assets and reduced its senior debt by an additional $1.

CHICAGO — Fitch Ratings has affirmed the ‘BBB+’ issuer default rating (IDR) and ‘BBB’ senior debt ratings of Horace Mann Educators Corp.

The collateral trustee acts as trustee for all senior debt holders and per the collateral trust and security agreement, will collect 100% of net revenues of 7F on a daily basis and apply such revenues, after operating expenses, to senior debt service payments.

At the same time Fitch affirms HMN’s ‘BBB+’ Issuer Default Rating (IDR) and ‘BBB’ senior debt ratings.

NEW YORK — Fitch has affirmed Lazard Group LLC’s Issuer Default Rating (IDR) at ‘BBB-‘ and long-term senior debt rating at ‘BB+’.

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