debenture
noun [ C ]
uk/dɪˈbentʃər/ us(abbreviation deb.); (US also debenture bond) FINANCE
a type of loan, often used by companies to raise money, that is paid back over a long period of time and at a fixed rate of interest. In the UK, but not in the US, debentures are secured against property or other assets owned by the borrower:
Investors in Wimbledon debentures get a free seat during the annual tournament.
A fixed debenture is secured on a named asset, similar to a mortgage that is secured on a person's house.
hold/issue/secure a debenture
See also
callable debenture
convertible debenture
junior debenture
noncallable debenture
pay-in-kind debenture
senior debenture
subordinated debenture