Anyone have an accurate description/definition of the term debenture? I am getting mixed answers from my research:
(1) 'A debenture is a type of bond or other debt instrument that is unsecured by collateral.' (
Investopedia)
(2) 'A debenture is a loan agreement in writing between a borrower and a lender that is registered at Companies House. It gives the lender security over the borrower’s assets.' (
gazette)
Is it the loan or the agreement for the loan?
Are debentures secured by collateral or not?
So confused after those two definitions
@Dheepa @Jacob Miller @Jaysen @Neville Birdi