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Optionsschuldverschreibung

English translation: warrant bond

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10:18 Mar 16, 2002
German to English translations [PRO]
Bus/Financial / Gesellschaftsrecht
German term or phrase: Optionsschuldverschreibung
Looking for American English...
Ausgabe von Wandel- und/oder Optionsschuldverschreibungen

Wandelschuldverschreibungen are convertible bonds. What would you call Optionsschuldverschreibungen?
AmiHH
Germany
Local time: 13:23
English translation:warrant bond
Explanation:
this is the term I have come across most frequently
Selected response from:

buckel
Local time: 13:23
Grading comment
All answers were helpful. I took the first entry on warrant bond since the second poster should have agreed and/or added information there instead of creating a whole new entry with the same term. (Thanks for all the extra information, though.)
3 KudoZ points were awarded for this answer

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Summary of answers provided
4bond with warrant
Andy Lemminger
4warrant bondbuckel
4 -1warrant bondwrtransco
4 -1callable bondgangels


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
bond with warrant


Explanation:
Out of Woywode

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Note added at 2002-03-16 10:27:09 (GMT)
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Zahn: Same as Optionsanleihe=bond with warrant, bond cum warrants, cum-warrant-bonds

Andy Lemminger
Canada
Local time: 05:23
Native speaker of: German
PRO pts in pair: 1127
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30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
warrant bond


Explanation:
this is the term I have come across most frequently

buckel
Local time: 13:23
PRO pts in pair: 41
Grading comment
All answers were helpful. I took the first entry on warrant bond since the second poster should have agreed and/or added information there instead of creating a whole new entry with the same term. (Thanks for all the extra information, though.)

Peer comments on this answer (and responses from the answerer)
agree  R. A. Stegemann: Yes, it sounds like a warrant bond. Warrants are options attached to bonds that permit the owner to convert to stock at a predetermined price. They were very popular in Japan during the 1980s, and contributed significantly to Japan's Bubble economy.
55 mins

disagree  gangels: Hamo, you talk about "convertible bonds"
5 hrs
  -> convertible bonds (Wandelanleihe) are quite different to warrant bonds, with convertibles the creditor can exchange the bond for shares, with a warrant bond the owner receives a "detachable" warrant that takes on a separte life to the bond itself
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
callable bond


Explanation:
i.e. a "bond with a call feature". It means a bond redeemable in 2010 can be "called" early, with a certain premium attached to compensate the investor. At maturity, in 2010 it always pays "par" ($100) but when called early (say 2008), it may pay $105, depending how much earlier it is called.

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Note added at 2002-03-16 16:14:17 (GMT)
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called by the issuer, of course.

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Note added at 2002-03-16 16:20:53 (GMT)
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Owned them myself. Bonneville Power municipals paying 16%!!, but were called early, unfortunately.

gangels
Local time: 05:23
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 5465

Peer comments on this answer (and responses from the answerer)
disagree  wrtransco: That would be a "kündbare Anleihe"
8 hrs
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
warrant bond


Explanation:
warrant issue

Optionsanleihe
Festverzinsliches Wertpapier, welches das Recht zum Erwerb von Aktien in einem von der Anleihe abtrennbaren Optionsschein verbrieft. Der Optionsschein kann selbständig gehandelt werden. Die Aktien lassen sich gegen Hergabe des Optionsscheins zu im voraus festgelegten Konditionen beziehen. Die Optionsanleihe selbst wird dabei nicht umgetauscht, sondern bleibt bis zu ihrer Rückzahlung bestehen. Für die Optionsanleihe kann es daher bis zu drei verschiedene Börsennotierungen geben: einen Kurs für die Anleihe mit Optionsschein ("cum"), für die Anleihe ohne Optionsschein ("ex") und für den Optionsschein allein.

Optionsschein
Auch "Warrant" genannt, verbrieft das Recht, nicht aber die Verpflichtung, eine bestimmte Menge eines Basiswertes (z.B. Aktien, Anleihen u.a.) zu kaufen (Call option) oder zu verkaufen (Put option).


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Note added at 2002-03-17 15:12:27 (GMT)
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Warrant bonds Bonds with a warrant attached. The warrant entitles the holder to buy a specific number of shares of the company in question during the exercise period at a price fixed in advance. Once the warrant is exercised, the bond continues to run until its maturity date.

wrtransco
Local time: 07:23
Native speaker of: Native in GermanGerman
PRO pts in pair: 236

Peer comments on this answer (and responses from the answerer)
disagree  gangels: In the US markets, this is true for securities only, not debt instruments. Bonds are NOT optionable. You may confuse warrant with zero coupon.
22 hrs
  -> What is your definition of security?
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