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Debentures; Convertible Debentures; Debenture Bonds
A debenture is a bond. It creates or acknowledges a debt. In contrast, a debenture bond is a long-term bond, bearing fixed interest and usually unsecured meaning that it is not supported by security such as a lien on the debtor's property. Debentures are unsecured debt backed only by the creditworthiness and reputation of the bond issuer. They are documented by an agreement called an indenture agreement. A convertible debenture is one that allows the holder of a debenture to convert the market value of the security into shares of the issuing company's common stock.
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