Second lien
From ACT Wiki
Jump to navigationJump to search
A lien is a legal right to hold the property of another party or to have it sold or applied in payment of a claim.
A second lien is one issued over the same collateral as a first lien.
The holder of the second lien is subordinated to the first lien.
The second lien holder will only be paid after the first lien holder has been paid, and only if there is any money left over.
- Deal winner's 2nd-lien note
- "[FQM] embarked on a major balance sheet refinancing, amending and extending its main corporate banking facility, with 100% lender consent, along with a series of equity and debt capital markets transactions, including the issuance of a new 2nd-lien note..."
- ACT Deals of the Year 2024 - Corporate finance - First Quantum Minerals (FQM).
