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secured bond
se·cured bond (plural se·cured bonds)


noun 
Definition:
 
bond guaranteed against default: a bond backed by collateral, e.g. a mortgage, ownership of which would be transferred to the bondholders if the required payments were not made
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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