unsecured bond

unsecured bond definition - finance
Bonds that are backed only by the issuerÂ’s promise to pay interest and repay the principal. There are no assets securing the promise to repay; they are only secured by the overall creditworthiness of the issuer.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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