Kredi
birinci sirali borc
İngilizce: first ranking debt
Türkçe Tanım
Bir borc alanin sermaye yapisinda en yuksek geri odeme onceligi tasiyan ve icra ile tasfiye senaryolarinda diger tum alacaklilardan once siralanan borc yukumlulukleridir. Birinci sirali borc genellikle kilit varliklar uzerindeki birincil rehinlerle teminat altina alinir ve en kapsamli taahhut korumalarindan yararlanir. Proje finansmaninda birinci sirali borc genellikle ust duzey kredi verenler ve cok tarafli kalkinma bankalari tarafindan saglanir ve kosullari genel finansal yapiyi ve risk dagitimini buyuk olcude etkiler.
English Definition
Debt obligations that hold the highest priority for repayment in a borrower's capital structure, ranking ahead of all other creditors in enforcement and liquidation scenarios. First ranking debt is typically secured by primary liens on key assets and benefits from the most comprehensive covenant protections. In project finance, first ranking debt is usually provided by senior lenders and multilateral development banks, and its terms heavily influence the overall financial structure and risk allocation.