關於可轉換債券交易品種的詳細說明(ppt 39頁)(英文版)

What are convertible bonds?
Convertible bond structures
Exchangeable bonds
Equity-linked market conditions
Arbitrage techniques

Low cost debt
Option value allows Issuers to achieve sub-market interest rate
Benefits enhanced by prevailing interest rate environment
Contingent equity sale at a premium
Equity raised at a premium to prevailing share price
No immediate EPS dilution - but impacts fully diluted
Rapid issuance
2-4 weeks preparation (subject to regulatory approval process)
Possible to issue more rapidly with delayed settlement
Accelerated marketing over 1/2 to 1 day
Demands on management
Low; No investor roadshows
Flexibility
Versatile product can be tailored to issuer’s needs

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