prior-lien bond

prior-lien bond definition - business

prior-lien bond

A bond with a priority claim over other bonds, both secured and unsecured, of the same issuer.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.