debenture

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Related to Debenture Stock: preferred stock, bonds, debenture bond

debenture

(dəbĕn`chər), document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bondbond,
in finance, usually a formal certificate of indebtedness issued in writing by governments or business corporations in return for loans. It bears interest and promises to pay a certain sum of money to the holder after a definite period, usually 10 to 20 years.
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, and debenture stock is similar to preferred stock. In the United States the term is usually employed for a corporation certificate without special security, such as a mortgage, to back it up. Debentures are generally issued by service corporations that have few mortgageable assets, or by blue-chip companies that are stable enough to invite unsecured loans. In a typical debenture, the corporation promises to repay the principal either periodically or on a specified date, and with regular interest. The term is also used for a document by which a government is bound to pay a creditor money due after some condition has been fulfilled.

debenture

Commerce a customs certificate providing for a refund of excise or import duty
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98 million, but will reduce the annual interest paid on the debenture stock by pounds 690,000.
The contribution from the pubs business, which included Ansells in the Midlands, fell by pounds 25 million to pounds 197 million, while exceptional items of pounds 358 million, largely relating to the corporate restructuring and redemption of loan and debenture stock, left the overall result half that reported a year earlier.
Duncan Fearnley, the Worcester-based cricket equipment manufacturer, has published the scorecard of its offer of debenture stock in the re-formed company.