What is meant by Debentures.
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A debenture is a type of debt instrument that is not secured by physical assets or collateral Debentures are backed only by the general creditworthiness and reputation and the issuer. Both corporation and governments frequently issue this type of bond to secure capital. Like other types of bonds, debentures are documented in an indenture.
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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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