Answer:
may be exchanged for equity securities.
Explanation:
Convertible bonds -
It refers to the type of bond which can easily be converted to stocks .
It refers to as the fixed - income debt security which can give the interest payments and can be converted to some predetermined number of equity shares and common stock , is referred to as convertible bonds .
The process of conversion can be done at any time period of the bond .
Hence , from the given information of the question ,
The correct answer is may be exchanged for equity securities.
