straight debt

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Straight Debt

Any debt that cannot be changed into something else. For example, a regular bond is straight debt because it contains no special features beyond repayment with interest. Straight debt contrasts with convertible debt which may be exchanged for something else, usually common stock.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

straight debt

Debt that cannot be exchanged for another asset. Because most bonds are not convertible, they are examples of straight debt. See also convertible security.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.