Frank riley just purchased a bond that is unsecured and is secondary to other unsecured bonds should the issuer declare bankruptcy. what type of bond has frank purchased?

The type of bond Frank has purchased is "subordinated debenture".

Other names or terms that are used for this type of bond are; subordinated debt, subordinated loan, subordinated bond, or junior debt.

Subordinated debenture is a sort of bond that refers to an unsecured and gives bondholders a claim optional to that of other assigned bondholders concerning both salary and resources.

Frank has purchased a subordinated debenture type of bond.

Subordinated debenture is type of bond which ranks after other debts if a company falls into liquidation or bankruptcy. This type of loan is also known as a junior security.