| Senior Security | |
 A security (usually debt) that, in the event the issuer goes bankrupt, must be repaid before other creditors receive any payment. |
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 In the event of liquidation, senior debt holders have seniority and are repaid before the junior debt. This is also known as "unsubordinated debt." |
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 Bond Basics Tutorial - What are bonds and do they belong in your portfolio? Get all the answers in this comprehensive tutorial. |
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