Definition of "Debenture"

Danielle McQuarry real estate agent
Danielle McQuarry, Real Estate Agent Round Table Realty

Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no security is given. There are two types of debentures: senior and junior.

 

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