等值债券两种或以上对债券偿付与抵押收入权利相等的债券。

Parity bond Two or more bond issues with equal rights to bond payments and pledged revenues.

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在这种机制下，投资者同意在将等值的老债券卖给银行的情况下，购买新的债券，从而确保其净风险敞口并未进一步扩大。

In such an arrangement, an investor agrees to buy into a new issue in return for being able to sell back to the Banks an equal amount of an old one, thus ensuring its net exposure does not rise.

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因此，可转换债券的市价会随等值的普通股的市价波动而波动。

Thus the market value of a convertible bond tends to fluctuate with the market value of an equivalent number of shares of common stock.

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