Vtg United Aircraft Corporation Subordinated Debenture Debt Certificate Aviation

Description

Vintage 1974 Subordinated Debenture Certificate from the UNITED AIRCRAFT CORPORATION.  This certificate is from United Aircraft's final days before changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. (The change became official on May 1, 1975.)
Such debt is referred to as 'subordinate', because the debt providers (the lenders) have subordinate status in relationship to the normal debt.
Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcyy and ranks below: the liquidator government tax authorities and senior debt holders in the hierarchy of creditors. Debt instruments with the lowest seniority are known as subordinated debt instruments.
This certificate is in excellent condition with no rip or stains.  Staple holes are present on top left corner.  A great aviation collectible!