equipment trust certificate

equipment trust certificate definition - business

equipment trust certificate

An intermediate- to long-term security that pays a fixed return based on payments received from the lease of equipment. These certificates are frequently used by railroads and airlines to finance rolling stock and aircraft, respectively.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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