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Senior Secured Debt

Senior Secured Debt Definition

Senior Secured Debt means a class of debt that has priority over other classes of debt and has collateral pledged as security against default. In the event of financial difficulties or liquidation of the borrower's assets, it has to be repaid before subordinated debt receives any payment. The secured debt is senior debt with respect to the unsecured debt. Most loans from financial institutions are senior debt.







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