DEBENTURE Definition

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DEBENTURE is a corporate IOU that is not backed by the companys assets (unsecured) and is therefore somewhat riskier than a bond.

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MANAGEMENT LETTER identifies issues not required to be disclosed in the Annual Financial Report but represent the auditors concerns and suggestions noted during the audit.

INTEREST RATE SWAPTION is an option on an interest rate swap. It gives the holder the right but not the obligation to enter into an interest rate swap at a specific date in the future, at a particular fixed rate and for a specified term.

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