1 definition found
From Webster's Revised Unabridged Dictionary (1913) [web1913]:
Debenture \De*ben"ture\, n.
Any of various instruments issued, esp. by corporations, as
evidences of debt. Such instruments (often called
{debenture bonds}) are generally, through not necessarily,
under seal, and are usually secured by a mortgage or other
charge upon property; they may be registered or
unregistered. A debenture secured by a mortgage on
specific property is called a
{mortgage debenture}; one secured by a floating charge (which
see), a
{floating debenture}; one not secured by any charge
{a naked debenture}. In general the term debenture in British
usage designates any security issued by companies other
than their shares, including, therefore, what are in the
United States commonly called {bonds}. When used in the
United States debenture generally designates an instrument
secured by a floating charge junior to other charges
secured by fixed mortgages, or specif., one of a series
of securities secured by a group of securities held in
trust for the benefit of the debenture holders.
more about bonds
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