debenture
Definitions (2)
1. Charge, claim, or lien on asset or property, usually as a result of a loan. See fixed charge and floating charge.
2. Promissory note or a corporate bond which (in the US) is backed generally only by the reputation and integrity of the borrower and (in the UK) by the borrower's specific assets. When unsecured, it is called a bare debenture or naked debenture; when secured by a charge on a specific property, it is called a mortgage debenture.
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