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The financing also includes a $1.4 billion bank facility and $500 million in subordinated debt.

But he said the company might sell subordinated debt from time to time.

This role of subordinated debt has attracted increasing attention from policy analysts in recent years.

It is said to include cash and equity, with no subordinated debt.

The remainder is in the form of subordinated debt.

It would also assume $1.5 billion in subordinated debt.

The proceeds should enable us to buy back additional subordinated debt.

The compounded annual return on our subordinated debt is 35 percent.

A short-term loan of what is known as subordinated debt would total about $3 billion.

Unlike the firm's four previous partnerships, the new fund will not use any subordinated debt.