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Convertible bond |
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Convertible bond General debt obligation of a corporation that can be exchanged for a set number of common shares of the issuing corporation at a prestated conversion price. Convertible bond. Convertible bonds are corporate bonds that give you the alternative of converting their value into common stock of that company or redeeming them for cash when they mature. The details governing the conversion, such as the number of shares of stock you would receive, are set when the bonds are issued. A convertible bond has a double appeal for investors. Its market value goes up if the stock price rises, but falls only to what it would be as a conventional bond if the stock price falls. In other words, the upside potential is considered greater than the downside risk. While convertible bonds typically provide lower yields than conventional bonds from the same issuer, they may provide higher yields than the underlying stock. You can buy convertibles through a broker or choose a mutual fund that invests in them. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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45 per share the value of the 5% Convertible Debenture was approximately $3,046 as compared to the par value of redemption plus call premium of $1,010. OTC BB: NEOM), an innovator in market-driven technologies, announced today that it has secured $5 million in financing through the sale of a secured convertible debenture to Cornell Capital Partners, LP. CONVERSION OF PREFERRED SHARES TO COMMON SHARES ----------------------------------------------- # of # of Period Preferred Shares Common Shares Current to March 30, 2007 10,000 1 Common Share March 31, 2007 - March 30, 2008 5,000 1 Common Share March 31, 2008 - March 30, 2009 2,500 1 Common Share March 31, 2009 - March 30, 2010 1,250 1 Common Share March 31, 2010 - March 30, 2011 625 1 Common Share March 31, 2011 and after 500 1 Common Share CONVERTIBLE DEBENTURE A). |
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