What does the term "redemption of debentures" refer to in the context of a company's financial obligations?

The discharge of liability by repaying debenture holders at maturity

In the context of a company's financial obligations, the term "redemption of debentures" refers to the process of discharging the company's liability to debenture holders by repaying them at the maturity date. When debentures are redeemed, the company pays back the principal amount to the debenture holders, fulfilling its obligation to them. This repayment typically occurs at the end of the debenture's term or as specified in the terms and conditions of the debenture issuance. It does not involve the issuance of new debentures, selling debentures to investors, or converting debentures into equity shares; instead, it is the repayment of the original debentures to the holders.