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Subject:  Re: Senior Subordinated Notes? Date:  1/26/2002  6:11 PM
Author:  DGChabino Number:  1122 of 2244

There are different levels of subordination of debt, in terms of where the stand in the event of a Bankruptcy. Senior subdinated would be notes that are subordinated to most creditors, but above other subordinated notes. If, any of that makes sense. In other words, holders of senior subordinated notes are less secure than creditors, but more secure than other subodinated debts.
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