Debenture - An unsecured debt backed only by the credit worthiness of the borrower.
A type of long term bond (loan), taken out by a company, which it agrees to repay at a specified future date. The company will usually pay a fixed rate of interest to debenture holders each year until maturity, and if it fails to pay either the interest or the principal amount of the loan when the time comes, the debenture holders can force the company into liquidation and recover their money from a sale of the its assets.
Debenture : an unsecured debt backed only by the credit worthiness of the borrower.
a type of long term bond (loan), taken out by a company, which it agrees to repay at a specified future date. the company will usually pay a fixed rate of interest to debenture holders each year until maturity, and if it fails to pay either the interest or the principal amount of the loan when the time comes, the debenture holders can force the company into liquidation and recover their money from a sale of the its assets.
Debenture