关于可转换债券交易品种的详细说明(ppt 39页)(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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