convertible debt

Definition

Security which can be exchanged for a specified amount of another, related security, at the option of the issuer and/or the holder. also called convertible.

Use convertible debt in a sentence

If we had some convertible debt, we would be okay because that would mean that the security could be exchanged.

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They knew that their convertible debt could always be turned into stock to pay back the debt that they borrowed.

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Our firm had a large amount of convertible debt on hand, and management was reviewing several options for what we could exchange it for.

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