One of the characteristics of a debenture is that

A debenture is a long-term debt instrument issued by companies and government entities to raise funds from the public. One of the characteristics of a debenture is that it yields a fixed rate of interest. This means that the issuer of the debenture promises to pay a fixed amount of interest periodically (such as annually or semi-annually) to the debenture holder until the maturity of the debenture. Unlike equity shares, debentures do not give the holder a voting right in the company's management. Additionally, debentures may have a redemption date, which is the date on which the issuer must repay the principal amount of the debenture to the holder. The holder of a debenture bears less risk than shareholders since they have a priority claim on the company's assets in the event of liquidation.