equity note

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Equity Note

A medium-term debt security that automatically turns into common stock at maturity. That is, rather than receiving back the principal, the holder exchanges the equity note for common stock. Before maturity, the equity note pays coupons like an ordinary debt security and has a higher priority than common stock in the event of the issuer's liquidation. An equity note combines the guaranteed return of a bond or other debt security with the potential for a higher return that comes with holding common stock.

equity note

Intermediate-term debt that is automatically converted into common stock at maturity.
References in periodicals archive ?
8 bln euros via a rights offering of shares and equity notes and the sale of a stake in its Turkish unit Finansbank.
Eurotunnel is pressing ahead with efforts to restructure its finances with a plan to redeem equity notes early.
The BERGI research program delivers research in the form of Equity Notes, Industry Reports and Research Alerts.
The June 30, 1995 interest payment on the New 10% Notes would be made in common stock using the same highly questionable equity value as would be used to convert the Equity Notes.
has assigned an "aa-" senior debt rating to The Chubb Corporation's (Warren, NJ) (NYSE: CB) $400 million ($460 million if the over-allotment is exercised) of equity notes.
5108 principal amount of equity notes which, subject to
In 2002, liquidity somewhat improved as partial funds from its equity notes offering were maintained at the holding company for added flexibility.
17,850,000 class C structured equity notes downgraded to
The total purchase price for Glendale, which includes converting preferred shares, cashing out stock options and extinguishing certain equity notes, is approximately $28 million.
Liquidity somewhat improved in 2002 as partial funds from the company's equity notes offering were maintained at the holding company for added flexibility.
NYSE: FSH) today filed a registration statement with the Securities Exchange Commission for a public offering of $125 million step-up convertible subordinated notes (Step-up Income Redeemable Equity Notes -- SIRENs) due 2003.
s (HIG) $300 million equity notes offering because of HIG's excellent franchise position in the property/casualty and asset accumulation businesses and the strength and diversity of its earnings.