second lien

American  

noun

1. a lien subordinate to a previous or preferred lien.

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Example Sentences

The campaign said the company did not receive a record of the second lien but would resolve it as necessary.

From Salon

A second lien worth $2,197 was attached a couple of years later.

From The Guardian

Under ESL’s proposal, holders of Sears’s second lien debt due October 2019 and July 2020 would have the option to either swap those loans for debt that is convertible into Sears equity or to extend the maturities on the debt in exchange for a reduced conversion price.

From The Wall Street Journal

In a statement, Stockbridge Capital said it “is aware of recent litigation by certain alleged minority investors in the company’s second lien lenders and it believes such litigation is without merit. The company does not expect the litigation will deter the sale.”

From Los Angeles Times

Claire’s 9 percent first lien notes due in 2019 trade at about 60 cents on the dollar, and its 8.875 percent second lien notes trade closer to 20 cents.

From Seattle Times