Debt securities or instruments. They may be offered by a buyer or bidder, often as an alternative to cash in a takeover and can be a useful method, subject to the satisfaction of certain conditions, of enabling a selling shareholder to defer any liability to capital gains tax (or corporation tax on chargeable gains) in respect of any gain arising on the share disposal.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.