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English definition of “second lien loan”

second lien loan

noun [C]    
FINANCE, LAW a loan to a company where the lender has the right to particular assets of the company if it goes bankrupt, but only after other lenders have received their share of assets: HSBC revealed that almost 6% of its second lien loans were more than 60 days in arrears.
(Definition of second lien loan noun from the Cambridge Business English Dictionary © Cambridge University Press)
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