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English definition of “debenture”

debenture

noun [C]
 
 
/dɪˈbentʃər/ ( 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
(Definition of debenture from the Cambridge Business English Dictionary © Cambridge University Press)
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