HomeDefinitionsCompareDebt Exchangeable instrumentThe financial definition for Exchangeable instrument:Applies mainly to convertible securities. Bond or preferred stock that may be exchangeable into the common stock of a different public corporation. Similar MatchesExchangeableExchangeableApplies mainly to convertible securities. 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 is lost. Click to compare definitions of Exchangeable instrument Click to view definitions beginning ex |