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Convertible Unsecured Loan Stock

A debt instrument that is convertible into the ordinary shares of a company at a fixed price at a date or within a range of dates in the future.

Convertible Unsecured Loan Stocks are a bit like debt and a bit like equity. They have a value based on the value of their debt (see debt at fair value) and an option or warrant value related to the price and price volatility of the ordinary shares.


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