Debenture Bond
Debenture Bond | Definition
(1) A bond backed by the general credit of the issuer but not secured by a specific lien on property.
(2) An unsecured bond whose holder has the claim of a general creditor on all assets of the issuer not pledged specifically to secure other debt.
A subordinated debenture bond is an unsecured bond that ranks after secured debt, after debenture bonds, and often after some general creditors in its claim on assets and earnings.
For over 1,000 additional terms and definitions please see our Investment Glossary Guide.
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