debenture
C1CEFR level
80/100Rarity: very rare
TechnicalRegister
Law noun
A long-term debt instrument, usually secured against a company's assets.
The lender took a debenture over the whole undertaking as security.
Business noun
An unsecured bond backed only by the issuer's general creditworthiness rather than specific collateral.
With no assets to pledge, the firm raised the cash through a ten-year debenture priced off its credit rating.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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