Parity Debt
Two or more issues of bonds with the same priority of claim or lien on the same underlying security and sources of repayment (i.e., revenues) for all of the bonds.
bond-basics
Senior Lien Bonds
Bonds having a priority claim on one or more Security Interests relative to the claim against such Security Interests by the holders of other Bonds.
See Also
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Private Activity Bond (PAB)
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.