second lien loan
noun[C]
ukusFINANCE,LAW
aloanto acompanywhere thelenderhas therighttoparticularassetsof thecompanyif it goesbankrupt, but only after otherlendershavereceivedtheirshareofassets:
HSBCrevealedthatalmost6% ofitssecondlienloanswere more than 60daysinarrears.