medium · Private Credit portfolio-management-monitoring-workouts
In a distressed restructuring, a company's assets are sold for $270 million. The waterfall includes $10 million in priority claims, $200 million in senior secured debt, and $100 million in senior unsecured notes.
What is the recovery rate for an investor holding the senior unsecured notes?
- 70%
- 60%
- 100%
- 0%
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