问一道题：NO.PZ2016070202000029

问题如下：

A corporate bond with face value of $100 is convertible at $40 and the corporation has called it for redemption at $106. The bond is currently selling at $115 and the stock’s current market price is $45. Which of the following would a bondholder most likely do?

选项：

Sell the bond

Convert the bond into common stock

Allow the corporation to call the bond at 106

None of the above

解释：

The conversion rate is expressed here in terms of the conversion price. The conversion rate for this bond is $100 into $40, or 1 bond into 2.5 shares. Immediate conversion will yield $2.5\times\$45=\$112.5$ . The call price is $106. Since the market price is higher than the call price and the conversion value, and the bond is being called, the best value is achieved by selling the bond.

债券已经在以106的价格赎回了还会有人用115的价格来接吗？不应该卖不出去，只能转股吗？至少不应该以112.5以上的价格卖啊

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品职答疑小助手雍 · 2020年01月16日

同学你好，会有人愿意接啊，这债券公司以106买回，但是你可以以115卖给别人（别人可能想赌短期股票涨价转股），所以一定期限内，这三种选择（卖债，卖给公司，转股）你是都可以进行选择的。

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NO.PZ2016070202000029 问题如下 A corporate bonwith favalue of $100 is convertible $40 anthe corporation hcalleit for remption $106. The bonis currently selling $115 anthe stock’s current market priis $45. Whiof the following woula bonolr most likely ? A.Sell the bon B.Convert the boninto common sto C.Allow the corporation to call the bon106 None of the above The conversion rate is expressehere in terms of the conversion price. The conversion rate for this bonis $100 into $40, or 1 boninto 2.5 shares. Immeate conversion will yiel2.5×$45=$112.52.5\times\$45=\$112.52.5×$45=$112.5. The call priis $106. Sinthe market priis higher ththe call prianthe conversion value, anthe bonis being calle the best value is achieveselling the bon 如果call excusion是106，市场上会有投资者愿意用116价格接盘？

2022-04-23 17:28 1 · 回答

NO.PZ2016070202000029 这里这个债券，已经被call了，你就必须让他给call吧，人家公司就是行了这个call的权，你偏把它卖了，这不是违约吗？而且这时候你硬要卖出去，别人接手的时候，如果他是不知情（不知道这个债券是已经被call的），追索下来也是你的责任，要去市场上花115买回这个债券再还回去吧，这不是白折腾吗。所以这题的不就没有任何意义吗，因为唯一选择就是给别人call回去就行了。那如果说别人没有call,只是说这是一个可转债,那我理解说目前最优选择确实是把他卖了比转成stock划算。

2021-03-07 01:09 2 · 回答

请问债转股2.5*45怎么算

2019-04-06 21:51 1 · 回答

转换成股票不是受益更高吗？谢谢指导！

2019-03-29 12:26 1 · 回答

问一道题：NO.PZ2016070202000029

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