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Convertible Subordinate Note

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Convertible Subordinate Note
A short-term debt security (note), that can be changed into common stock (convertible) and ranks below other loans (subordinate).

Notes:
Don't let all the words in this term intimidate you. Break up the term and it's easy to see this is just a short term bond that has the conditions of being 1) convertible to stock, and 2) subordinate to other debt.

This is a common type of debt that companies issue.


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In a private placement transaction, Silver Lake Partners has agreed to purchase, subject to customary closing conditions, a $300 million five-year convertible subordinate note with a coupon of 6.
Silver Lake Partners to Invest in Gartner Through a $300 Million ... by Business Wire
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