Exchangeable_bond

In finance, an exchangeable bond (or XB) is a straight bond with an imbedded option to exchange the bond for the stock of a company other than the issuer (usually a subsidiary or company in which the issuer owns a stake) at some future date and under prescribed conditions. An exchangeable bond is different from a convertible bond. A convertible bond gives the holder the option to convert bond into shares of the issuer.

External links

• First Exchangeable Bond in Central and Eastern Europe issued by EBRD
• Dixons mulls Wanadoo exchangeable bond issue
• Allianz: Bonds and Exchangeable Bonds
  
  

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