Discussion
What is the full form of FCCB?
Answer: A
Correct answer: Foreign Currency Convertible Bond
An FCCB is a bond issued abroad in a foreign currency which the holder may convert into the issuer’s equity shares. It gives the company cheap debt - the conversion option lets it pay a low coupon - while the investor gets a bond’s safety with a share of any upside. The risk to the issuer is that the currency moves against it before redemption.
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