The $508-million deal also includes options and $100 million in convertible debentures.

Additional investor funds were also raised through a senior convertible debenture.

In theory, the market price of a convertible debenture should never drop below its intrinsic value.

Chalone, for example, recently sold $8.5 million worth of convertible debentures at a 5 percent rate to four individuals in Europe.

Concurrently, the company sold $85 million in convertible debentures.

The company plans to use about $35 million to repay bank debt and series A convertible debentures that mature next year.

Chesapeake Utilities Corp., $5 million of convertible debentures due 2014.

By exercising convertible debentures in the holding company two or three years from now, Accor will ultimately be able to take majority control.

Nor were the prevailing customary practices on European markets followed when it came to convertible debentures.

"I doubt very much whether the convertible debentures needed to raise the additional funds can be sold on the terms described by Macy's," he added.

In 1982, Reliance Industries came up against a rights issue regarding partly convertible debentures.

RJR's convertible debentures were down more than three points.

American Brands Inc. announced plans for a $400 million issue of convertible debentures in the international capital markets.

What Daimler calls "options," for example, are more like what Americans call convertible debentures.

Fairfax made an investment of $350 million in AbitibiBowater convertible debentures with a 8% cash coupon.

(4) Stock options and convertible debentures.

Mutual Shares, a $2.8 billion no-load mutual fund, was the second major investment group to disclose a holding of convertible debentures.

Under the agreement, Community Savings shareholders would receive $15 in cash and $5 in convertible debentures for each of their 4.5 million shares.

"And we raised $400,000 needed to develop Liberty Knolls through a convertible debenture and stock offering.

Faced with financial difficulties, he sold a part of his stake to Ramanath Goenka as convertible debentures.

The securities included common shares and convertible debentures held as collateral for the loan to Mr. Campeau's two companies.

The Moody's downgrade, to B-3, from B-2, covered about $7 billion in senior convertible debentures and payment-in-kind securities.

A second way to cushion managers against a wildly swinging market is to issue convertible debentures, which are bonds that the owner may convert to common stock.

Ltd., Richmond, British Columbia, 5 million common shares and $50 million of senior subordinated convertible debentures due 2002.

Sequent Computer Systems Inc has privately placed some $20m - £11.3m - worth of convertible debentures to repay bank debt and provide working capital.