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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.
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