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 ?
For the combined offering of the new shares and the convertible equity notes [there was] a 1.
-Greece says National Bank capital raise oversubscribed
8 bln euros via a rights offering of shares and equity notes and the sale of a stake in its Turkish unit Finansbank.
Greek bank stocks plunge 5.2%, NBG weighs
Eurotunnel is pressing ahead with efforts to restructure its finances with a plan to redeem equity notes early.
Loss of duty-free not the ticket; Cost of travel will rise, warns Eurotunnel boss
The deal would consist of equity rights and convertible equity notes.
-NBG to raise capital
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.
A.M. Best Assigns Senior Debt Rating to Chubb Corporation's Equity Notes
In 2002, liquidity somewhat improved as partial funds from its equity notes offering were maintained at the holding company for added flexibility.
A.M. Best Affirms Financial Strength Ratings of The Hartford; Downgrades Debt Ratings
17,850,000 class C structured equity notes downgraded to
Fitch Affs 3 Classes & Dwngrs 2 Classes of PPM America High Grade CBO I, Ltd
Liquidity somewhat improved in 2002 as partial funds from the company's equity notes offering were maintained at the holding company for added flexibility.
A.M. Best Affirms Debt Ratings of The Hartford Financial Services Group Inc.; Affirms Financial Strength Ratings of Property & Casualty Subsidiaries
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.
S&P Rates Hartford Financial's $300M Notes 'A'
At the end of 2003, the remaining pound sterling252 million of Equity Notes will convert to Eurotunnel units.
Eurotunnel Interim Results to June 30, 2002; Further Good Progress Towards Cash Break-Even
Alternative investments comprise hedge funds, private equity/venture capital and managed futures funds, while structured products include hedged stock positions and guaranteed equity notes.
Investors Put More Money Into Alternative Investments in 2001, Finds Merrill Lynch and Cap Gemini Ernst & Young World Wealth Report
Eurotunnel, the operator of the high-speed transport system linking the UK to Continental Europe through the Channel Tunnel, today announced the result of the Deferred Interest Purchase Offer in respect of the Equity Notes as of the Early Tender Date.
Eurotunnel Equity Note Deferred Interest Purchase Offer
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