Question
A 20-year convertible bond has a coupon of 1.25%, a par value of $1,000 and has a convertibility ratio of 47.75:1. If the stock is
A 20-year convertible bond has a coupon of 1.25%, a par value of $1,000 and has a convertibility ratio of 47.75:1. If the stock is currently trading at $22.57 and it matures next year, what is the bonds value (ignore time value)?
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Personal Finance
Authors: Jeff Madura
6th Edition
0134082915, 9780134082912
