A debenture is

A debenture is a loan capital raised by a company. It is a type of long-term financial instrument that companies can use to raise money from the public or institutional investors. When investors purchase a debenture, they are essentially lending money to the company that issued it, and in return, the company agrees to pay them interest on a regular basis and to repay the principal amount at a specified date in the future. Unlike shares, debentures do not represent ownership in the company and do not give investors voting rights.