- convertible bond
convertible bond see bond 2
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- convertible bond
A debt instrument convertible generally during a specified period of time into a number of newly-issued listed ordinary shares of the issuer at a predetermined conversion price. The conversion period will frequently be from a date 40 days after the date of issue until a date just prior to any date fixed for redemption of the bond.Related links+ convertible bondUSAAlso known as a convertible note and a convertible debenture. A type of debt instrument that can be converted into another security, usually shares of stock, of the issuing company, usually at some pre-announced ratio based on a fixed number of securities and a set price. It is a hybrid security with debt and equity-like features. Although it typically has a low coupon rate, the holder is compensated with the ability to convert the bond to common stock, usually at a substantial discount to the stock's market price.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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convertible bond — noun a bond that can be converted to other securities under certain conditions • Hypernyms: ↑bond, ↑bond certificate * * * a bond that can be exchanged for a fixed number of shares of the common stock of the issuing company at the holder s option … Useful english dictionary
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