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English definition of “unsecured notes”

unsecured notes

noun [plural]
notes (= a type of loan) for which the lender has no right to the property or other assets of the borrower if the money is not paid back: They are in default on $45.2 million in unsecured notes owed to the life insurance company.
(Definition of unsecured notes from the Cambridge Business English Dictionary © Cambridge University Press)
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