Convertible Subordinate Note
- note), that can be changed into common stock (convertible) and ranks below other loans (subordinate).
Don't let all the words in this term intimidate you. Break up the term and it's easy to see this is just a short term bond that has the conditions of being 1) convertible to stock, and 2) subordinate to other debt.
This is a common type of debt that companies issue.
Investment dictionary. Academic. 2012.
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