... of debt and a $3.2 million conversion premium on the Company's convertible notes pursuannt to the first quarter bond issuance and refinancing. The Q1 2010 net loss was...
... to deduct, through amortization, the premium he has paid in purchasing corporate bonds, and 125..., rather, the attractiveness of the convertible feature of the bonds. The bonds were callable on 3...," did not include premium paid for the conversion privilege. In rejecting this contention, the Court...
Even at $1.7 trillion, hedge funds remain much smaller than mutual funds or pension funds.2 What distinguishes hedge funds from other investors is that hedge funds tend to pursue active and aggressive investment strategies. [...] hedge funds use leverage, sell short, and invest in derivatives. In those circumstances where the payoff exceeds the harm, and thus produces a windfall, activist bondholders have incentives to enforce their rights aggressively, leading to overenforcement. [...] these bondholders may devote excessive resources to the detection of violations and pursue claims that have limited merit.
....6 The funds held Citadel's 1.875% Convertible Subordinated Notes, which traded at a substantial ... to an indenture clause under which the conversion price would be reduced according to a specified fo... in treasury rates, changes in the risk premium, and for convertible bonds, stock price movements....
Convertible debt is a well-recognized mechanism for reducing the agency costs of debt. This study examines whether firms that attempt to control agency costs of equity through strong governance structures, including chief executive officer compensation alignment and board independence, are more likely to use an agency cost-reducing debt structure such as convertible debt. We find modest evidence of a complementary relationship between strong governance structures and use of convertible debt among a sample of relatively larger firms.
... as well as between shareholders and bondholders. Moral hazard problems arise when agents take unob...Debtholders will demand an additional premium for this uncertainty. In this environment, with in... with a call feature (to force conversion) effectively allows management a back-door way to ...
... shall the amount of bond premium on a convertible bond include any amount attributable to the conver...
... its own stock in order to satisfy the conversion option of its subsidiary's convertible debentures.... years from the date of issuance at a premium starting at 1051/4 percent and ratably decreasing ... the remaining life of the debentures as a "bond premium" paid for the debentures. Finally, Can cla...
... from the recent exchange of the convertible bonds into shares. In order to further enhance sha.... In March 2006, the conversion of the 2001 convertible bonds took place: 3.58 mil... for the convertible bond redemption premium (net deferred income taxes) had been registered as...
... reference to any generally accepted table of bond yields. The yield to maturity is to be expressed a... company has acquired, at a discount or premium, some part of its outstanding debt which could be ...(3) If callable, call price. (4) If convertible, terms of conversion. (5) Dividend rate. (6) Par o...
...One example would be a convertible security, a fixed-income instrument with an equity... and coupons throughout the life of the bond) is a debt obligation of the issuing company, and .... Conversion Value . In any company's capital structure, conver.... Most convertible securities trade at a premium to their conversion values, due to the incremental...
...(iii) Convertible bonds(A) General rule. If the bond is a convertibl... by an amount equal to the value of the conversion option. The value of the conversion option may be ...
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