Capital structure

The ranking of everyone with a claim on a company: secured loans, senior bonds, subordinated debt, preferred, equity. In distress the order becomes destiny — recovery is decided by where you stand in the queue.

Where Capital structure is explained in depth

The definition above is the short version. These pages put it to work, in the order they use it most:

• Valuation & Deal Analysis
• Credit Derivatives
• High-Yield Bond
• Leveraged buyout
• What does a price/earnings ratio tell me?
• Venture Capital
• Preferred Stock
• Hedge Fund

The whole glossary