a benchmark-sized subordinated bond sal

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Senior Member
Emirates NBD (ENBD), Dubai's largest lender, has hired six banks to help arrange a benchmark-sized subordinated bond sale, four sources familiar with the plan said, as it seeks to reduce government support for its capital ratios.

Source: "Dubai lender ENBD eyes bond sale to repay govt funds", Reuters.

Could you help me explain the meaning of the bold phrase?
I tried to search for there definitions in dictionaries but in vain.
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    Senior Member
    American English
    It is helpful to link to the source: Reuters.

    The sixth paragraph says this: Benchmark size transactions are at least $500 million.

    Four sentences from Wikipedia: Subordinated debt
    In finance, subordinated debt (also known as subordinated loan, subordinated bond, subordinated debenture or junior debt) is debt which ranks after other debts if a company fall into liquidation or bankruptcy.

    Such debt is referred to as 'subordinate', because the debt providers (the lenders) have subordinate status in relationship to the normal debt.

    Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcy, and ranks below: the liquidator, government tax authorities and senior debt holders in the hierarchy of creditors.

    Because subordinated debts are repayable after other debts have been paid, they are more risky for the lender of the money.

    It is often a lost cause trying to find these sorts of definitions in a dictionary. I found the "benchmarked-sized" by reading the article, and the Wikipedia article by searching for "subordinated bond," as in your question.
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