Alabama Proposal to authorize and issue subordinated convertible debentures
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How to fill out Proposal To Authorize And Issue Subordinated Convertible Debentures?
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Companies with a low credit rating and high growth potential often issue convertible bonds. For financing purposes, the bonds offer more flexibility than regular bonds. They may be more attractive to investors since convertible bonds provide growth potential through future capital appreciation of the stock price.
A convertible debenture is a type of long-term debt issued by a company that can be converted into shares of equity stock after a specified period. Convertible debentures are usually unsecured bonds or loans, often with no underlying collateral backing up the debt.
A convertible debenture is a hybrid financial instrument that has both fixed income and equity characteristics. In its simplest terms, it is a bond that gives the holder the option to convert into an underlying equity instrument at a predetermined price.
Fully Convertible Debenture: These are debentures in which the whole value of debentures can be converted into equity shares of the company. Partly Convertible Debenture: In this kind of debentures, only a part of the debentures will be eligible for conversion into equity shares.
The Company is a wholly-owned subsidiary of The Southern Company, which is the parent company of three traditional electric operating companies, Southern Power Company, and Southern Company Gas. There is no established public trading market for the Company's common stock.
Convertible bonds offer lower interest rates than comparable conventional bonds, so they're a cost-effective way for the company to raise money. Their conversion to shares also saves the company cash, although it risks diluting the share price.