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MEANING OF SENIOR DEBT

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(Querist)
26 August 2007 This is with refrence to Tata Steel this year annual report of Year2006-07. In that words are used in courous finance is Senior Debt what is menat by that please help me.
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MEGHNA S VARIA

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MEGHNA S VARIA (Querist)
26 August 2007 Reply me on my email address i.e. meghuvarsad@yahoo.co.in
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Shashi Mohan Jha

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Shashi Mohan Jha (Expert)
27 August 2007 Normally a big loan (for the purpose of repayment of various existing loans/expansion/capital purpose) is named as "Senior Debt"
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Kaustuv

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Kaustuv (Expert)
28 August 2007 any form of debt that has priority with respect to interest and principal over other classes of debt and over all classes of equity by the same issuer is termed as "senior debt". if the issuer goes bankrupt, senior debt must be repaid before other creditors receive any payment.
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