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Convertible Floating-Rate note
(redirected from Convertible Floating Rate Note)

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Convertible Floating-Rate Note
A debt security with a floating interest rate that may be exchanged for another debt security with a higher, fixed interest rate. Most floating-rate notes expose holders to the risk that declining interest rates will reduce their returns. A convertible floating-rate note protects holders by giving them the option to lock-in their return, should interest rates fall significantly.

convertible floating-rate note
A floating-rate note that gives the holder the option of exchanging it for a longer-term debt security with a specified coupon. Unlike a regular floating-rate note, the convertible feature protects investors against declining interest rates.


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5 million in principal amount of convertible floating rate notes due May 1, 2007, subject to extension, in certain circumstances, until May 1, 2008.
0 billion convertible floating rate notes, due November 2035.
50% senior notes and $60 million principal amount of convertible floating rate notes issued in a private placement on March 18, 2005.
 
 
 
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