Collateral
Second Lien
A security interest in collateral that is subordinate to a first-lien holder. Second-lien lenders face higher recovery risk and therefore charge higher interest rates to compensate for their junior position.
Collateral
A security interest in collateral that is subordinate to a first-lien holder. Second-lien lenders face higher recovery risk and therefore charge higher interest rates to compensate for their junior position.
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