Subordinated Debt (Junior Debt)
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Subordinated Debt (Junior Debt): Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debt-holders receive payment only after senior debt is paid in full. A subordination of security interest . . . View Full Definition
Long-Term Debt: Total of all debt due after one year including bonds at face value.
Long Term Debt: Financing used to purchase or improve assets such as plant, facilities, large equipment and real estate.
Level Debt Service: A municipal charter provision that debt payments must be relatively equal from year to year so that required revenue projections are easier.
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