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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Bond Insurance (Policy)
A financial guaranty insurance policy provided by a bond insurer which pledges to make scheduled payments of interest and principal of a bond issue in the event the issuer is unable to make those payments on time.