Applies mainly to convertible securities ( convertible security). Means the issuer, if so stated, may substitute a convertible debenture for an existing convertible preferred with identical terms. Most often used when a corporation has an immediate need for equity capital and a low tax rate, and expects either or both conditions to change. This would make the debenture less attractive if the interest tax-deductibility ( deductible) is lost. Bloomberg Financial Dictionary

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exchangeable ex‧change‧a‧ble [ɪksˈtʆeɪndʒəbl] adjective
if something is exchangeable, it can be given to someone who will give something back in return:
exchangeable for

• Each bond is priced at FFr680 and is exchangeable for one share from July 1 next year.

exchangeable into

• When people lend dollars, they lend because they trust that they will be repaid in money that will be exchangeable into goods.

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exchangeable UK US /ɪksˈtʃeɪndʒəbl/ adjective
FINANCE able to be exchanged by its owner for something else: exchangeable for sth »

The bonds will be exchangeable for shares or cash.

exchangeable into sth »

Drachma continued to be exchangeable into Euros until 2004.


exchangeable bonds/shares/securities

Financial and business terms. 2012.

Look at other dictionaries:

  • Exchangeable — Ex*change a*ble, a. [Cf.F. [ e]changeable.] 1. Capable of being exchanged; fit or proper to be exchanged. [1913 Webster] The officers captured with Burgoyne were exchangeable within the powers of General Howe. Marshall. [1913 Webster] 2.… …   The Collaborative International Dictionary of English

  • exchangeable — index assignable, convertible, correlative, heritable, marketable, negotiable Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • exchangeable — is spelt with three es …   Modern English usage

  • exchangeable — exchangeability, n. exchangeably, adv. /iks chayn jeuh beuhl/, adj. capable of being exchanged. [1565 75; EXCHANGE + ABLE] Syn. EXCHANGEABLE, INTERCHANGEABLE apply to something that may replace something else. That which is EXCHANGEABLE may be… …   Universalium

  • exchangeable — exchange ► VERB ▪ give something and receive something else in return. ► NOUN 1) an act or the action of exchanging. 2) a short conversation or argument. 3) the giving of money for its equivalent in the currency of another country. 4) a building… …   English terms dictionary

  • exchangeable — adjective see exchange II …   New Collegiate Dictionary

  • exchangeable — adjective a) Able to be exchanged. b) Having an associated right to be exchanged for another form of financial security …   Wiktionary

  • exchangeable — (Roget s IV) modif. Syn. interchangeable, transmutable, convertible, returnable, commutable, substitutable, replaceable, fungible, substitutive, reciprocal, mutual, complementary, correlative, equivalent …   English dictionary for students

  • exchangeable —  . excisable. excitable. exhalation. exhaustible. exhilarate …   Bryson’s dictionary for writers and editors

  • exchangeable — ex change·a·ble || dÊ’É™bl adj. capable of being exchanged, tradable, interchangeable …   English contemporary dictionary

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