| 单词 | Convertible Bond |
| 释义 | Convertible Bond 可转换债券 含股票认购权的公司债，可按约定的换股价将债券转换成发行公司的股票。 转换价通常高於当前股价，可转债的投资者会期望标的股票的价格能升逾转换价。由於有机会从换股中获得资本利得，投资者可接受可转债的票面利率低於一般公司债。如果可转债与标的股票的价格出现失衡现象，交易商会把握机会进行套利。参见Arbitrage（套利），Bond（债券），Coupon（票面利率，息票）。 "A bond that is convertible into a fixed number of an issuing company's stock at a pre-set conversion price. This price is usually at a premium over the current or average price, but purchasers of the convertible bond hope that the price of the underlying stock will rise. Because of the prospect of possible capital gains on the shares, the bond can carry a lower coupon, or nominal rate of interest. Convertible bonds may often be used for arbritrage by traders who can make money by spotting differences between the valuation of the bond and the underlying shares. See also: Bond, Coupon" |
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