Meaning of “second lien loan” in the English Dictionary

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"second lien loan" in Business English

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second lien loannoun [ C ]

uk us

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” from the Cambridge Business English Dictionary © Cambridge University Press)