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Convertible bond - Financial definition

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Translations:      FR  obligation convertible (n.f.)     ES  obligaciĆ³n convertible (n.f.)     DE  Convertible Bond (n.f.) , Wandelanleihe (n.f.) , Wandelschuldverschreibung (n.f.) 

Concise definition of the term convertible bond

A convertible bond is a corporate bond which gives its holder an additional right to give up the bond in exchange for a fixed number of ordinary shares. At maturity, convertibles are worth either their cash redemption value or the market value of the shares into which they are convertible, whichever is the greater.

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