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What does senior unsecured mean?

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senior unsecured
Adjective


The status of the claims of bondholders on the earnings and assets of the issuer only after satisfaction of the claims of any secured bondholders and other secured creditors and to the extent of the value of the collateral securing the secured creditors’ claims.

Synonym(s): 
  • unsubordinated.
Comment: 
This represents the general creditor status.
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