Hi everyone:
In general, how would you determine if Trade Credit is senior to a Senior note, esp. in a bankruptcy scenario please? Can I assume that Trade Credits are pari passu with senior note, or is there a specific subsection of the indenture that might mark this out?
Thanks!
Also, I'm just curious - why do companies issue "subordinated senior notes"? it just seems a bit of an oxymoron to me.
Thanks!
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