ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SUBORDINATED DEBT Definition
SUBORDINATED DEBT is debt over which senior debt takes priority. In the event of bankruptcy, subordinated debt holders receive payment only after senior debt claims are paid in full. There is a pecking order determining the sequence in which a company will pay off its debt instruments, subordinate (or junior) issues will not be repaid until unsubordinated (or senior) debt has been repaid in full.
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ARBITRAGEUR is traditionally someone who indulges in arbitrage of any sort; now a Wall Street term for a professional investor who specializes in issues during takeovers.
CASH DRAW see PROPRIETORS DRAW.