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Meaning of “unsecured notes” in the English Dictionary

"unsecured notes" in Business English

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unsecured notesnoun [plural]

uk   us   FINANCE
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 ​notesowed to the ​lifeinsurancecompany.
(Definition of unsecured notes from the Cambridge Business English Dictionary © Cambridge University Press)
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