Meanings
-
1
noun
a long-term debt instrument issued by a company or government; in US usage it is usually unsecured, while in UK usage it may be secured on assets
The company financed the expansion by issuing ten-year debentures at a fixed rate of interest.
-
2
noun
historical: a certificate acknowledging money owed or authorizing payment, including repayment of a customs drawback
The customs office issued a debenture for the duty to be repaid when the goods were exported.
Thesaurus
Etymology
From earlier debentur, an anglicization of Latin debentur, 'they are owing,' traditionally the opening word of official certificates acknowledging a debt. The ending was reshaped under the influence of nouns in -ure; the corporate-bond sense arose in the nineteenth century.