Hello YouTube, Todd Ault here, and Welcome to Wall Street Words! Today's Wall Street term is "Senior Bank Loan"

Now, a Senior Bank Loan is created for a company, usually is syndicated. It's could be a group of banks or investors and resold that Senior Bank Loan usually has a lean on all the company's assets. So, let's see your company and you want to borrow from Bank of America and you get a Senior Bank Loan. That Senior Bank Loan is senior to preferred stock, common stock, bond holders, everybody, and they get paid first in the event of a liquidation. This is an important part of the capital structure. Senior Bank Loans are generally issued by what we know is the "Sell Side," which we talked about before. Senior Bank Loans usually have loans against all the company's assets specifically, so the borrower cannot use (sell off) those assets and they make sure that Senior Bank Loan is protected. Today's word is "Senior Bank Loan."

Definition - A debt financing obligation issued to a company by a bank or similar financial institution and then repackaged and sold to investors. The repackaged debt obligation consists of multiple loans. Senior bank loans hold legal claim to the borrower's assets above all other debt obligations. Because it is considered senior to all other claims against the borrower, in the event of a bankruptcy, it will be the first loan to be repaid before any other creditors, preferred stockholders, or common stockholders receive repayment. Senior bank loans are usually secured via a lien against the assets of the borrower.

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