floating debenture

floating debenture
Debenture De*ben"ture (?; 135), n. [L. debentur they are due, fr. debere to owe; cf. F. debentur. So called because these receipts began with the words Debentur mihi.] 1. A writing acknowledging a debt; a writing or certificate signed by a public officer, as evidence of a debt due to some person; the sum thus due. [1913 Webster]

2. A customhouse certificate entitling an exporter of imported goods to a drawback of duties paid on their importation. --Burrill. [1913 Webster]

Note: It is applied in England to deeds of mortgage given by railway companies for borrowed money; also to municipal and other bonds and securities for money loaned. [1913 Webster]

3. Any of various instruments issued, esp. by corporations, as evidences of debt. Such instruments (often called

{debenture bonds}) are generally, through not necessarily, under seal, and are usually secured by a mortgage or other charge upon property; they may be registered or unregistered. A debenture secured by a mortgage on specific property is called a

{mortgage debenture}; one secured by a floating charge (which see), a

{floating debenture}; one not secured by any charge

{a naked debenture}. In general the term debenture in British usage designates any security issued by companies other than their shares, including, therefore, what are in the United States commonly called {bonds}. When used in the United States debenture generally designates an instrument secured by a floating charge junior to other charges secured by fixed mortgages, or, specif., one of a series of securities secured by a group of securities held in trust for the benefit of the debenture holders. [Webster 1913 Suppl.]


The Collaborative International Dictionary of English. 2000.

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  • floating debenture — A debenture that has a floating charge as security. Compare fixed debenture …   Big dictionary of business and management

  • Debenture — De*ben ture (?; 135), n. [L. debentur they are due, fr. debere to owe; cf. F. debentur. So called because these receipts began with the words Debentur mihi.] 1. A writing acknowledging a debt; a writing or certificate signed by a public officer,… …   The Collaborative International Dictionary of English

  • debenture bonds — Debenture De*ben ture (?; 135), n. [L. debentur they are due, fr. debere to owe; cf. F. debentur. So called because these receipts began with the words Debentur mihi.] 1. A writing acknowledging a debt; a writing or certificate signed by a public …   The Collaborative International Dictionary of English

  • debenture — de·ben·ture /di ben chər/ n [Anglo French debentour and Medieval Latin debentura, perhaps from Latin debentur they are owed]: an unsecured bond that is backed by the issuer s general credit rather than a specific lien – called also debenture… …   Law dictionary

  • floating charge — A mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is… …   Law dictionary

  • debenture stock — A registered participation in debt issued by a company which is normally freely transferable and is generally listed on a recognised investment exchange. Debenture stock will typically be secured by a floating charge over all the undertaking and… …   Law dictionary

  • debenture — Security instrument evidencing a debt due from one party to another, payable on demand or otherwise, which can be a fixed and/or floating charge on assets and which can grant the lender broad powers to recover the amount due upon default,… …   Glossary of Bankruptcy

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  • a naked debenture — Debenture De*ben ture (?; 135), n. [L. debentur they are due, fr. debere to owe; cf. F. debentur. So called because these receipts began with the words Debentur mihi.] 1. A writing acknowledging a debt; a writing or certificate signed by a public …   The Collaborative International Dictionary of English

  • mortgage debenture — Debenture De*ben ture (?; 135), n. [L. debentur they are due, fr. debere to owe; cf. F. debentur. So called because these receipts began with the words Debentur mihi.] 1. A writing acknowledging a debt; a writing or certificate signed by a public …   The Collaborative International Dictionary of English

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