how are debentures structured 
all debentures follow a standard structuring process and have common features first a trust indenture is drafted which is an agreement between the issuing entity and the entity that manages the interests of the bondholders next the coupon rate is decided which is the rate of interest that the company will pay the debenture holder or investor this rate can be either fixed or floating and depends on the company s credit rating or the bond s credit rating debentures may also be either convertible or non convertible into common stock 