New German bonds question second-lien Danielle Myles January 19, 2011 X LinkedIn Email Show more sharing options Copy Link URLCopied! Print X LinkedIn Email The latest high-yield issue under the German Bond Act adopts a structure that calls into question the preference for second-lien over unsecured debt Unlock this content. The content you are trying to view is exclusive to our subscribers. To unlock this content: Take a Free Trial or Login