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Category > Accounting Posted 07 May 2017 My Price 7.00

Assume you just paid $1200 for a convertible bond

Assume you just paid $1200 for a convertible bond that carries a 7.5% coupon and has 15 years to maturity. The bond can be converted into 24 shares, which are now trading at $50. Find the bond investment value of this issue, given that comparable non-convertible bonds are currently selling to yield 9%.

 

Answers

Alpha Geek
(8)
Status NEW Posted 07 May 2017 06:05 PM My Price 7.00

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Attachments

file 1494182831-2111230_1_636296946018579425_2111230.xlsx preview (95 words )
Va-----------lue----------- of----------- Co-----------nve-----------rti-----------ble----------- Bo-----------ndC-----------oup-----------on -----------Rat-----------eYe-----------ars----------- to----------- ma-----------tur-----------ity-----------Cur-----------ren-----------tly----------- se-----------lli-----------ngy-----------iel-----------dAs-----------sum-----------e y-----------ou -----------jus-----------t p-----------aid----------- $1-----------200----------- fo-----------r a----------- co-----------nve-----------rti-----------ble----------- bo-----------nd -----------tha-----------t c-----------arr-----------ies----------- a -----------7.5-----------% c-----------oup-----------on -----------and----------- ha-----------s 1-----------5 y-----------ear-----------s t-----------o m-----------atu-----------rit-----------y. -----------The----------- bo-----------nd -----------can----------- be----------- co-----------nve-----------rte-----------d i-----------nto----------- 24----------- sh-----------are-----------s, -----------whi-----------ch -----------are----------- n-----------ow -----------tra-----------din-----------g a-----------t $-----------50.----------- Fi-----------nd -----------the----------- bo-----------nd -----------inv-----------est-----------men-----------t v-----------alu-----------e o-----------f t-----------his----------- is-----------sue-----------, g-----------ive-----------n t-----------hat----------- co-----------mpa-----------rab-----------le -----------non------------co-----------nve-----------rti-----------ble----------- bo-----------nds----------- ar-----------e c-----------urr-----------ent-----------ly -----------sel-----------lin-----------g t-----------o y-----------iel-----------d 9-----------%.N-----------I/Y-----------PMT-----------Par----------- V-----------alu-----------eFV-----------PVI-----------nve-----------stm-----------ent----------- va-----------lue----------- of----------- th-----------is -----------con-----------ver-----------tib-----------le
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