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18) Secured bonds: Are called debentures. Have specific assets of the issuing company pledged as collateral. Are backed by the issuer's bank. Are subordinated to
18) Secured bonds:
- Are called debentures.
- Have specific assets of the issuing company pledged as collateral.
- Are backed by the issuer's bank.
- Are subordinated to those of other unsecured liabilities.
- Are the same as sinking fund bonds.
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