看看可交换债券近几年的发行数据,会发现当下它成为了又一个创新热点。可交换债券,即上市公司股东通过抵押其持有该公司股票给托管机构进而发行的公司债券,债券持有人在一定期限内能按照约定条件将所持债券交换成该部分上市公司股权。与可转换债券类似,可交换债券同样内嵌看涨期权;但与可转换债券不同,可交换债券的发行人并非转股标的 Look at the issue of exchangeable bond data in recent years, you will find now it has become another hot spot of innovation. Exchangeable bonds, that is, shareholders of listed companies by mortgage of the company holds the stock to the custodian and then issued corporate bonds, bond holders within a certain period of time can be in accordance with the terms of the bonds will be exchanged for the shares of the listed companies. Similar to convertible bonds, exchangeable bonds also have a built-in call option; but unlike convertible bonds, issuers of exchangeable bonds are not convertible bonds