What is an Exchangeable Bond?
James discusses exchangeable bonds by taking a look at the Spanish construction company, ACS. He discusses the size, terms and result of this issuance.
Overview
Exchangeable bonds are similar to convertibles but have some key differences including the pricing of an exchangeable being the option value.
Key learning objectives:
Define an Exchangeable bond
How they are similar and different to convertibles
Summary
Expert
James Eves
Career banker with over 25 years working in investment banking. James has worked in many aspects of banking including equity capital markets, origination, IPOs and hybrid capital.
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