The security that buys underlying common shares. Unlike a warrant, it is subject to the conversion ratio. It provides the safety of a bond until converted to equity. It has to be converted to shares when it is mature at the predetermined ratio, if the loan stock is not redeemable.
Related information about irredeemable convertible unsecured loan stock (ICULS):
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A type of security that can be used to purchase underlying common shares. It is similar to a warrant except that it is subject to the conversion ratio. In essence, an ...
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Definition of irredeemable convertible unsecured loan stock (ICULS): The security that buys underlying common shares. Unlike a warrant, it is subject to the ...
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Irredeemable Convertible Unsecured Loan Stock - ICULS Definition | Also find the definitions of each and every financial term right here at Finbox.
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