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Convertible bond is the contingent claim not only of the firm value, but also of interest rate and its term structure.

企业可转换债券既是企业市场价值的或有债权，又是利率及其期限结构的或有债权。

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In order to keep the currency convertible they had to keep interest rates high to prevent people from demanding the gold.

为了保持货币的转换性，他们不得不将利率提高，以防人们向他们索求金子的兑换。

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In order to keep the currency convertible they had to keep interest rates high to prevent people from demanding the gold.

为了保持货币的转换性,他们不得不将利率提高,以防人们向他们索求金子的兑换。

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Companies offer executives interest-paying bonds convertible into stock at a very attractive conversion price.

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In these deals NIR would provide cash to a publicly-traded company in exchange for a convertible debenture that entitled NIR to receive interest and repayment in the form of cash or discounted equity securities.

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In addition to the above mentioned benefits, founders avoid complex interest-rate arrangements that come with convertible debt.

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