undated security - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “undated security”

undated security

noun [C]
 
 
a bond, etc. that pays interest but that will never be redeemed (= exchanged for cash): The market for these undated securities was battered, with losses estimated at $400 million.
(Definition of undated security from the Cambridge Business English Dictionary © Cambridge University Press)
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