HomeDefinitionsCompareDebt In substance defeasanceThe financial definition for In substance defeasance:Process through which debt is removed from the balance sheet but not canceled. Similar MatchesEconomic defeasanceEconomic defeasanceSee: In-substance defeasance Legal defeasanceLegal defeasanceThe deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture. Click to compare definitions of In substance defeasance Click to view definitions beginning in |