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If you were to loose your home for example...and the forclosure took in 100k, and you had a primary loan of 90K, and a secondary loan of 90K, then ...
the primary (senior), loan gets 90K, and the secondary loan gets 10K.
The symbol for THL Credit Senior Loan Fund in the NYSE is: TSLF.
THL Credit Senior Loan Fund (TSLF)had its IPO in 2013.
The symbol for First Trust Senior Loan Fund ETF in NASDAQ is: FTSL.
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