In case of bankruptcy, subordinated bond holders are paid after the liquidator, government taxes, and senior bond holders are paid. 如果发行人破产，先偿付清算人和政府税，然后是高级债券，然后才是次级债券。
The subordinated bond sale was warmly received in the Chinese inter-bank market by investors attracted by the relatively high coupon and an implicit state guarantee. 这宗次级债券销售在中国的银行间市场得到积极响应，投资者被相对较高的票息和隐含的国家担保所吸引。
