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Debenture
01
a financial pact with details about interest rates and when the borrowed money will be paid back, not tied to any specific belongings
02
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future
debenture
n
Example
The debenture outlined the terms for repayment over a ten-year period.
The debenture specified the annual interest payments and maturity date.
Unlike secured bonds, this debenture was not tied to any specific assets.
The company issued a debenture to raise funds for its expansion project
She purchased a debenture from the corporation to secure a steady income stream.
