closed-end indenture


A provision in a bond issue which states that the holder has exclusive right to the collateral pledged to secure the issue. The bond carries less risk than those that are secured with a partial claim to the collateral pledged to multiple bonds; therefore the premium is typically lower.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
closed-end fund closed-end investment company