what is meant by debenture
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A debenture is a type of debt instrument that is not secured by collateral and usually has a term greater than 10 years.
Debentures are backed only by the creditworthiness and reputation of the issuer. Both corporations and governments frequently issue debentures to raise capital or funds.
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A debenture issued by a company is an acknowledgement of its debt and it states that the company has borrowed a certain amount of money, which it promises to repay at a future date.
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