KudoZ home » French to English » Finance (general)

Ora

English translation: convertible bonds

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:Ora - obligations remboursables en actions
English translation:convertible bonds
Entered by: Paula Price
Options:
- Contribute to this entry
- Include in personal glossary

10:34 Mar 5, 2004
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: Ora
Montages Financements Structurés, Titrisation d’actifs, Obligation Haut Rendement en Placement Privé, Obsar, Ora etc

(What does Ora stand for?)

Financial Services Presentation
Paula Price
Local time: 10:14
convertible bond
Explanation:
These are convertible bonds, i.e. bonds that are convertible to shares, as the name in French suggests.

An "equity note" is actually something entirely different, and usually referred to as an equity-linked note. However, different markets call these by different names, therefore it is possible that some people call convertible bonds "equity notes", though I personally have never.

Investor Words' definition of a convertible bond:

A corporate bond, usually a junior debenture, that can be exchanged, at the option of the holder, for a specific number of shares of the company's preferred stock or common stock. Convertibility affects the performance of the bond in certain ways. First and foremost, convertible bonds tend to have lower interest rates than non-convertibles because they also accrue value as the price of the underlying stock rises. In this way, convertible bonds offer some of the benefits of both stocks and bonds. Convertibles earn interest even when the stock is trading down or sideways, but when the stock prices rise, the value of the convertible increases. Therefore, convertibles can offer protection against a decline in stock price. Because they are sold at a premium over the price of the stock, convertibles should be expected to earn that premium back in the first three or four years after purchase. In some cases, convertibles may be callable, at which point the yield will cease.

Investor Words defintion of an equity-linked note:
equity-linked note
A debt instrument whose return on investment is tied to the equity markets. The return on equity-linked notes may be determined by a stock index, a basket of stocks, or a single stock. These securities are usually protected from negative performances in the base equity by guaranteeing a minimum redemption value.

As you can see, the two securities are quite different, so be careful of which one you choose!

From the Atos Origin link below:
The weighted-average number of shares excludes 3,657,000 million ORA bonds, redeemable in Atos Origin ordinary shares...
Selected response from:

Katherine Zei
Canada
Local time: 04:14
Grading comment
Thanks a lot!
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4 +3Obligation remboursable en actions
Tom Bishop
5 +2convertible bond
Katherine Zei
5 +1bonds redeemable into shares
Simon Mountifield
5equity redeemable bondxxxDeriche
4equity note
Mihaela Sinca


  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
equity note


Explanation:
Domaine(s) : - finance
valeurs mobilières


français
anglais

obligation remboursable en actions n. f.
equity note


Définition :
Instrument d'emprunt prévoyant pour le débiteur la possibilité de rembourser son emprunt à échéance au moyen d'actions ou autres instruments de capitaux propres, ou encore au moyen du produit de la vente d'actions ou autres instruments de capitaux propres.


Sous-entrée(s) :
synonyme(s)
emprunt remboursable en actions n. m.

abréviation(s)
ORA n. f.



Mihaela Sinca
Local time: 12:14
Native speaker of: Native in RomanianRomanian
Login to enter a peer comment (or grade)

12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Obligation remboursable en actions


Explanation:
Bond redeemable for shares


    Reference: http://www.abcbourse.com/apprendre/lexique/abreviations.html
Tom Bishop
Local time: 10:14
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 28

Peer comments on this answer (and responses from the answerer)
agree  lenkl
42 mins
  -> Thanks

agree  Mario Marcolin
1 hr
  -> Thanks Mario

agree  Vicky Papaprodromou
3 hrs
  -> Thanks Vicky
Login to enter a peer comment (or grade)

9 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
bonds redeemable into shares


Explanation:
obligations remboursables en actions

--------------------------------------------------
Note added at 14 mins (2004-03-05 10:49:05 GMT)
--------------------------------------------------

I forgot to add that if you check the glossary, you\'ll find an extensive description given recently by Jane Lamb-Ruiz

Simon Mountifield
Local time: 11:14
Works in field
Native speaker of: English
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Yann Anyr Bouchedor
1 hr
  -> Tks

neutral  Katherine Zei: the actual term in English is "convertible bonds"
3 hrs
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
convertible bond


Explanation:
These are convertible bonds, i.e. bonds that are convertible to shares, as the name in French suggests.

An "equity note" is actually something entirely different, and usually referred to as an equity-linked note. However, different markets call these by different names, therefore it is possible that some people call convertible bonds "equity notes", though I personally have never.

Investor Words' definition of a convertible bond:

A corporate bond, usually a junior debenture, that can be exchanged, at the option of the holder, for a specific number of shares of the company's preferred stock or common stock. Convertibility affects the performance of the bond in certain ways. First and foremost, convertible bonds tend to have lower interest rates than non-convertibles because they also accrue value as the price of the underlying stock rises. In this way, convertible bonds offer some of the benefits of both stocks and bonds. Convertibles earn interest even when the stock is trading down or sideways, but when the stock prices rise, the value of the convertible increases. Therefore, convertibles can offer protection against a decline in stock price. Because they are sold at a premium over the price of the stock, convertibles should be expected to earn that premium back in the first three or four years after purchase. In some cases, convertibles may be callable, at which point the yield will cease.

Investor Words defintion of an equity-linked note:
equity-linked note
A debt instrument whose return on investment is tied to the equity markets. The return on equity-linked notes may be determined by a stock index, a basket of stocks, or a single stock. These securities are usually protected from negative performances in the base equity by guaranteeing a minimum redemption value.

As you can see, the two securities are quite different, so be careful of which one you choose!

From the Atos Origin link below:
The weighted-average number of shares excludes 3,657,000 million ORA bonds, redeemable in Atos Origin ordinary shares...


    Reference: http://www.investorwords.com
    www.atosorigin.com/corporate/investors/ download/hy_en_2003.pdf
Katherine Zei
Canada
Local time: 04:14
Specializes in field
Native speaker of: English
PRO pts in category: 16
Grading comment
Thanks a lot!

Peer comments on this answer (and responses from the answerer)
agree  lenkl
2 hrs
  -> thx lenkl

agree  Mario Marcolin: :-)
18 hrs
Login to enter a peer comment (or grade)

13 hrs   confidence: Answerer confidence 5/5
equity redeemable bond


Explanation:
Obligation remboursable en actions
Contrairement à l'obligation convertible, obligation qui est remboursée sous la forme d'actions, quel que soit son cours et sans que le souscripteur ait d'autre choix.

xxxDeriche
Local time: 10:14
Specializes in field
Native speaker of: Native in FrenchFrench, Native in ArabicArabic
PRO pts in category: 4
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search