# Metadata Source URL:: https://en.wikipedia.org/wiki/Convertible_bond Topics:: #business --- # Convertible bond - Wikipedia ## Highlights > [!quote]+ Updated on 240822_204959 > > In finance, a convertible bond or convertible note or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company or cash of equal value. It is a hybrid security with debt- and equity-like features.[1] It originated in the mid-19th century, and was used by early speculators such as Jacob Little and Daniel Drew to counter market cornering.