what is a senior bank loan 
a senior bank loan is a debt financing obligation issued to a company by a bank or similar financial institution and then repackaged and sold to investors the repackaged debt obligation consists of multiple loans senior bank loans hold legal claim to the borrower s assets above all other debt obligations because it is considered senior to all other claims against the borrower in the event of a bankruptcy it will be the first loan to be repaid before any other creditors preferred stockholders or common stockholders receive repayment senior bank loans are usually secured via a lien against the assets of the borrower 