Meaning of “unsecured notes” in the English Dictionary

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"unsecured notes" in Business English

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unsecured notesnoun [ 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)