| 单词 | convertible debenture |
| 释义 | convertible debenture A company share which is a debenture, in the sense that it pays a regular dividend but carries no vote, but which the holder has the right at some future date to exchange for ordinary share on pre- arranged terms. This gives the holders relative security during the early years of a venture, while enabling them to participate in the long-run benefits if things turn out well. |
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