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So, what are they, anyway? Is this just a fancy term
for long term debt? Who buys these things?

Just wondering, since I own this stock...


See portion of press release below:

U.S. Oncology, Inc. (NasdaqNM:USON - news), a Houston company with a focus on pharmaceuticals used in cancer
treatment and related services, sold $175 million of 10-year senior subordinated notes in the 144a private placement market, said market sources on Friday.
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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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