Based on your understanding of using convertibles for financing, identify whether each of the features listed in the following table is an advantage or a disadvantage from an issuer's standpoint: Considering the pros and cons of convertible securities, under which of the following two situations is a company likely to issue convertibles? When lenders are willing to provide financing at low interest rates because they think the funds will be invested in low-risk projects When lenders are reluctant to provide financing because they think the funds will be invested in risky projects