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In A Dictionary of English Law by (London: Sweet and Maxwell, 1923) page, 856, author W. Y. Byrne gives this illustration: "If A owes B money and C, for good consideration, promises B that he will pay him the money if A does not, here C is a surety for A, the principal debtor, and his promise constitutes a contract of suretyship." (duhaime.org)

The Representative of the Covered Bondholders may (and in the case of an Approved Reorganisation, shall) agree with the Issuer (or any previous substitute) and the Covered Bond Guarantor at any time without the consent of the Covered Bondholders:

(a) to the substitution in place of Intesa Sanpaolo (or of any previous substitute) as principal debtor under the Covered Bonds by any bank Subsidiary of Intesa Sanpaolo (the Substitute Obligor) by way of an obligation transfer agreement without recourse to the Issuer (accollo liberatorio); or (INTESA SANPAOLO S.P.A. Base Prospectus Document)

A guarantee is a contractual obligation to either discharge a debt owed by the principal debtor or to procure the principal debtor���s compliance with its guaranteed obligation: the liability of the surety is ancillary, or secondary, to the primary liability of the creditor. (Allen & Overy LLP)