Perfected first lien

Definition:

A first attachment on an asset that is duly recorded with the relevant government body so that the lender will be able to act on it should the borrower default.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Distressed securities

A security of a firm that has declared or is about to declare bankruptcy. In the context of hedge funds, a style of management that focuses on securities of companies that have declared bankruptcy... Read More

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