European Banks Dump Massive Amounts of Subordinated Debt on Investors
MishTalk
DECEMBER 18, 2013
It is the highest such volume since the $122.4bn seen in 2008 according to Dealogic, the data provider. Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcy, and ranks below the liquidator, government tax authorities and senior debt holders in the hierarchy of creditors.
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