Meaning of “debenture” in the English Dictionary

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"debenture" in Business English

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debenturenoun [ 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

(Definition of “debenture” from the Cambridge Business English Dictionary © Cambridge University Press)