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Q. Why convertibles might be an attractive source of finance for companies?
- Convertibles is able to provide immediate finance at lower cost since the conversion option effectively reduces the interest rates payable.
- They represent attractive investments to investors as they are effectively debt risks for future equity benefits. Therefore finance is relatively easily raised.
- Must the company's assumption regarding the likelihood of conversion prove true then there is no problem of establishing a large sinking fund for the redemption of the debentures.
- Convertibles permit for higher gearing levels than would otherwise be the case with straight debt (interest costs are potentially lower with convertibles).
What is Comparability This quality would enable users to identify changes in the business over time (for instance, trend in sales revenue over the past five years). It wou
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