问题如下:
What is the main reason why convertible bonds are generally issued with a call?
选项:
A.To make their analysis less easy for investors
B.To protect against unwanted takeover bids
C.To reduce duration
D.To force conversion if in-the-money
解释:
D is correct. Companies issue convertible bonds because the coupon is lower than for regular bonds. In addition, these bonds are callable in order to force conversion into the stock at a favorable ratio. In the previous question, for instance, conversion would provide equity capital to the firm at the price of $40, while the market price is at $45.
老撕你好,感觉c也没问题啊,我可转债一转maturity不就小了,Duration不就小了,感觉这个答案很讲道理啊