A bond that can be converted into shares of the issuer at a premium upon maturity or at a specified date. It is often used to facilitate its placement and reduce the interest rate. In recent years, they have been issued with very short maturities, as a way of placing shares without having to set a price for them. It is also possible for the holder to exchange these bonds for shares on a specific date. Until the conversion date, the holder receives the periodic coupons established in the issue. It is an asset that functions as if two instruments were purchased, the fixed yield asset and the option to purchase shares when it is more profitable.
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