{"id":29914,"date":"2023-12-07T08:47:25","date_gmt":"2023-12-07T08:47:25","guid":{"rendered":"https:\/\/masterskills.org\/blog\/trai-khoan-chuyen-doi-hoan-toan-fully-convertible-debenture-fcd-la-gi.html"},"modified":"2023-12-23T06:11:00","modified_gmt":"2023-12-22T23:11:00","slug":"trai-khoan-chuyen-doi-hoan-toan-fully-convertible-debenture-fcd-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/trai-khoan-chuyen-doi-hoan-toan-fully-convertible-debenture-fcd-la-gi.html","title":{"rendered":"Tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n (Fully Convertible Debenture – FCD) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda: Investopedia<\/p>\n<\/figcaption><\/figure>\n

Tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n<\/b> trong ti\u1ebfng Anh l\u00e0 Fully Convertible Debenture<\/b>, vi\u1ebft t\u1eaft: FCD<\/b>.<\/p>\n

Tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n<\/b> l\u00e0 m\u1ed9t lo\u1ea1i\u00a0ch\u1ee9ng kho\u00e1n n\u1ee3\u00a0trong \u0111\u00f3 to\u00e0n b\u1ed9 gi\u00e1 tr\u1ecb \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh\u00a0ch\u1ee9ng kho\u00e1n v\u1ed1n\u00a0theo th\u00f4ng b\u00e1o c\u1ee7a nh\u00e0 ph\u00e1t h\u00e0nh. T\u1ec9 l\u1ec7 chuy\u1ec3n \u0111\u1ed5i \u0111\u01b0\u1ee3c quy\u1ebft \u0111\u1ecbnh b\u1edfi nh\u00e0 ph\u00e1t h\u00e0nh khi\u00a0tr\u00e1i kho\u00e1n\u00a0\u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh. Khi chuy\u1ec3n \u0111\u1ed5i, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u1edf th\u00e0nh\u00a0c\u1ed5 \u0111\u00f4ng\u00a0c\u1ee7a c\u00f4ng ty.<\/p>\n

N\u1ed9i dung<\/font><\/h3>\n

Tr\u00e1i kho\u00e1n l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 n\u1ee3 trung v\u00e0 d\u00e0i h\u1ea1n \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng b\u1edfi c\u00e1c c\u00f4ng ty l\u1edbn \u0111\u1ec3 vay ti\u1ec1n v\u1edbi l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh. Tuy nhi\u00ean, tr\u00e1i kho\u00e1n kh\u00f4ng c\u00f3 t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p \u0111\u01b0\u1ee3c cam k\u1ebft \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o cho c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i v\u00e0 tr\u1ea3 n\u1ee3 g\u1ed1c.<\/p>\n

N\u00f3 d\u1ef1a v\u00e0o h\u1ed3 s\u01a1 t\u00edn d\u1ee5ng c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh. N\u1ebfu c\u00f4ng ty v\u1ee1 n\u1ee3 ho\u1eb7c ph\u00e1 s\u1ea3n, ch\u1ee7 n\u1ee3 s\u1ebd ch\u1ec9 l\u1ea5y l\u1ea1i ti\u1ec1n \u0111\u00e3 \u0111\u1ea7u t\u01b0 sau khi t\u1ea5t c\u1ea3 c\u00e1c ch\u1ee7 n\u1ee3 c\u00f3 b\u1ea3o \u0111\u1ea3m \u0111\u01b0\u1ee3c thanh to\u00e1n.<\/p>\n

T\u1ea1i th\u1eddi \u0111i\u1ec3m ph\u00e1t h\u00e0nh, t\u1ed5 ch\u1ee9c \u1ee7y th\u00e1c n\u00eau r\u00f5 th\u1eddi gian chuy\u1ec3n \u0111\u1ed5i, t\u1ec9 l\u1ec7 chuy\u1ec3n \u0111\u1ed5i v\u00e0 gi\u00e1 chuy\u1ec3n \u0111\u1ed5i:<\/p>\n

– Th\u1eddi gian chuy\u1ec3n \u0111\u1ed5i l\u00e0 kho\u1ea3ng th\u1eddi gian t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n quy\u1ec1n chuy\u1ec3n \u0111\u1ed5i ch\u1ee9ng kho\u00e1n.<\/p>\n

– T\u1ec9 l\u1ec7 chuy\u1ec3n \u0111\u1ed5i l\u00e0 s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb m\u1ed7i tr\u00e1i kh\u00f3a chuy\u1ec3n \u0111\u1ed5i th\u00e0nh v\u00e0 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c bi\u1ec3u th\u1ecb tr\u00ean m\u1ed7i tr\u00e1i kho\u00e1n ho\u1eb7c tr\u00ean 100 tr\u00e1i kho\u00e1n.<\/p>\n

– Gi\u00e1 chuy\u1ec3n \u0111\u1ed5i l\u00e0 gi\u00e1 m\u00e0 t\u1ea1i \u0111\u00f3 c\u00e1c ch\u1ee7 n\u1ee3 c\u00f3 th\u1ec3 chuy\u1ec3n \u0111\u1ed5i ch\u1ee9ng kho\u00e1n n\u1ee3 c\u1ee7a h\u1ecd th\u00e0nh c\u1ed5 phi\u1ebfu. Gi\u00e1 th\u01b0\u1eddng cao h\u01a1n gi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i c\u1ee7a c\u1ed5 phi\u1ebfu.<\/p>\n

Ph\u00e2n bi\u1ec7t tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed1i ho\u00e0n to\u00e0n v\u00e0 c\u00e1c c\u00f4ng c\u1ee5 n\u1ee3 kh\u00e1c<\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t ch\u00ednh gi\u1eefa FCD v\u00e0 h\u1ea7u h\u1ebft c\u00e1c tr\u00e1i kho\u00e1n c\u00f3 th\u1ec3 chuy\u1ec3n \u0111\u1ed5i kh\u00e1c l\u00e0 c\u00f4ng ty ph\u00e1t h\u00e0nh bu\u1ed9c chuy\u1ec3n \u0111\u1ed5i tr\u00e1i kho\u00e1n th\u00e0nh v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu. V\u1edbi c\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n chuy\u1ec3n \u0111\u1ed5i kh\u00e1c, ch\u1ee7 s\u1edf h\u1eefu tr\u00e1i kho\u00e1n c\u00f3 quy\u1ec1n ch\u1ecdn c\u00f3 chuy\u1ec3n \u0111\u1ed5i ho\u1eb7c kh\u00f4ng chuy\u1ec3n \u0111\u1ed5i.<\/p>\n

Kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u00e1c c\u00f4ng c\u1ee5 n\u1ee3 thu\u1ea7n t\u00fay, ch\u1eb3ng h\u1ea1n nh\u01b0 tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p, FCD kh\u00f4ng g\u00e2y r\u1ee7i ro t\u00edn d\u1ee5ng cho c\u00f4ng ty ph\u00e1t h\u00e0nh v\u00ec cu\u1ed1i c\u00f9ng FCD chuy\u1ec3n \u0111\u1ed5i th\u00e0nh v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu.<\/p>\n

\u0110\u1ed1i v\u1edbi FCD, to\u00e0n b\u1ed9 gi\u00e1 tr\u1ecb \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh\u00a0ch\u1ee9ng kho\u00e1n v\u1ed1n. Trong khi \u0111\u00f3, tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i m\u1ed9t ph\u1ea7n (Partly Convertible Debenture – PCD) li\u00ean quan \u0111\u1ebfn vi\u1ec7c c\u00f4ng ty ph\u00e1t h\u00e0nh mua l\u1ea1i m\u1ed9t ph\u1ea7n gi\u00e1 tr\u1ecb c\u1ee7a ch\u1ee9ng kho\u00e1n b\u1eb1ng ti\u1ec1n m\u1eb7t, ph\u1ea7n c\u00f2n l\u1ea1i chuy\u1ec3n th\u00e0nh v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu.<\/p>\n

L\u1ee3i \u00edch c\u1ee7a tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n<\/font><\/h3>\n

\u0110\u1ed1i v\u1edbi ch\u1ee7 s\u1edf h\u1eefu tr\u00e1i kho\u00e1n<\/b><\/span><\/p>\n

FCD gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tham gia v\u00e0o s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a m\u1ed9t c\u00f4ng ty trong khi gi\u1ea3m r\u1ee7i ro ng\u1eafn h\u1ea1n. Trong nh\u1eefng n\u0103m tr\u01b0\u1edbc khi chuy\u1ec3n \u0111\u1ed5i, ch\u1ee7 s\u1edf h\u1eefu FCD \u0111\u01b0\u1ee3c quy\u1ec1n nh\u1eadn m\u1ed9t d\u00f2ng ti\u1ec1n thanh to\u00e1n l\u00e3i. M\u1eb7c d\u00f9 th\u01b0\u1eddng th\u1ea5p h\u01a1n tr\u00e1i kho\u00e1n kh\u00f4ng chuy\u1ec3n \u0111\u1ed5i nh\u01b0ng c\u00e1c kho\u1ea3n thanh to\u00e1n n\u00e0y \u0111\u01b0\u1ee3c thanh to\u00e1n tr\u01b0\u1edbc c\u1ed5 t\u1ee9c d\u00e0nh cho c\u00e1c c\u1ed5 \u0111\u00f4ng.<\/p>\n

Ngo\u00e0i ra, \u0111\u1ed1i v\u1edbi c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n t\u01b0\u01a1ng \u0111\u1ed1i k\u00e9m thanh kho\u1ea3n, quy\u1ec1n chuy\u1ec3n \u0111\u1ed5i c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf \u0111\u00e1ng k\u1ec3.<\/p>\n

\u0110\u1ed1i v\u1edbi c\u00f4ng ty ph\u00e1t h\u00e0nh<\/b><\/p>\n

FCD c\u00f3 th\u1ec3 gi\u00fap c\u00f4ng ty ph\u00e1t h\u00e0nh t\u1ed3n t\u1ea1i trong t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh kh\u00f3 kh\u0103n. N\u1ebfu c\u00f4ng ty ph\u00e1t h\u00e0nh m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng l\u1edbn c\u00e1c kho\u1ea3n n\u1ee3 kh\u00f4ng th\u1ec3 chuy\u1ec3n \u0111\u1ed5i, \u0111\u1ebfn khi h\u1ebft h\u1ea1n, c\u00f4ng ty c\u00f3 th\u1ec3 ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi kh\u1ee7ng ho\u1ea3ng t\u00edn d\u1ee5ng n\u1ebfu c\u00f3 suy tho\u00e1i kinh t\u1ebf. V\u1edbi c\u00e1c kho\u1ea3n n\u1ee3 chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n, c\u00f4ng ty tr\u00e1nh \u0111\u01b0\u1ee3c vi\u1ec7c ph\u1ea3i tr\u1ea3 ti\u1ec1n \u0111\u1ec3 tr\u1ea3 n\u1ee3 g\u1ed1c.<\/p>\n

H\u1ea1n ch\u1ebf c\u1ee7a tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n<\/font><\/h3>\n

– Nh\u01b0\u1ee3c \u0111i\u1ec3m r\u00f5 r\u00e0ng nh\u1ea5t c\u1ee7a FCD cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 l\u00e0 c\u00e1c c\u00f4ng ty ph\u00e1t h\u00e0ng c\u00f3 kh\u1ea3 n\u0103ng bu\u1ed9c chuy\u1ec3n \u0111\u1ed5i v\u00e0o nh\u1eefng th\u1eddi \u0111i\u1ec3m c\u00f3 l\u1ee3i cho c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i thay v\u00ec c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 FCD.<\/p>\n

Gi\u1ea3 s\u1eed r\u1eb1ng c\u00f4ng ty \u1ee7y th\u00e1c x\u00e1c \u0111\u1ecbnh r\u1eb1ng c\u00f4ng ty ph\u00e1t h\u00e0nh c\u00f3 quy\u1ec1n chuy\u1ec3n \u0111\u1ed5i FCD th\u00e0nh v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu \u1edf m\u1ee9c cao h\u01a1n 50% so v\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i trong 5 n\u0103m t\u1edbi.<\/p>\n

N\u1ebfu gi\u00e1 c\u1ed5 phi\u1ebfu gi\u1ea3m 50% do ho\u1ea1t \u0111\u1ed9ng kinh doanh k\u00e9m, th\u00ec c\u00f4ng ty c\u00f3 th\u1ec3 c\u1ea7n c\u1ea3i thi\u1ec7n d\u00f2ng ti\u1ec1n c\u00e0ng s\u1edbm c\u00e0ng t\u1ed1t. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 FCD c\u00f3 th\u1ec3 s\u1ebd b\u1ecb bu\u1ed9c ph\u1ea3i chuy\u1ec3n \u0111\u1ed5i v\u1edbi m\u1ed9t kho\u1ea3n l\u1ed7 \u0111\u00e1ng k\u1ec3 ngay sau 5 n\u0103m.<\/p>\n

– M\u1eb7t kh\u00e1c, c\u00e1c c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i s\u1ebd kh\u00f4ng mu\u1ed1n pha lo\u00e3ng v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu n\u1ebfu gi\u00e1 c\u1ed5 phi\u1ebfu cao h\u01a1n khi c\u00f4ng ty ho\u1ea1t \u0111\u1ed9ng kinh doanh t\u1ed1t.<\/p>\n

C\u00f4ng ty c\u00f3 th\u1ec3 tr\u00ec ho\u00e3n chuy\u1ec3n \u0111\u1ed5i c\u00e0ng l\u00e2u c\u00e0ng t\u1ed1t, cho \u0111\u1ebfn khi c\u00f3 nhu c\u1ea7u c\u1ea3i thi\u1ec7n d\u00f2ng ti\u1ec1n ph\u00e1t sinh trong th\u1eddi k\u00ec suy tho\u00e1i. T\u1ea1i th\u1eddi \u0111i\u1ec3m \u0111\u00f3, gi\u00e1 c\u1ed5 phi\u1ebfu c\u00f3 kh\u1ea3 n\u0103ng th\u1ea5p h\u01a1n, h\u1ea1n ch\u1ebf l\u1ee3i nhu\u1eadn \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u1ee7a nh\u1eefng ng\u01b0\u1eddi n\u1eafm gi\u1eef chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n.<\/p>\n

(Ngu\u1ed3n tham kh\u1ea3o: Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Tr\u00e1i kho\u00e1n chuy\u1ec3n \u0111\u1ed5i ho\u00e0n to\u00e0n (ti\u1ebfng Anh: Fully Convertible Debenture – FCD) l\u00e0 m\u1ed9t lo\u1ea1i ch\u1ee9ng kho\u00e1n n\u1ee3 trong \u0111\u00f3 to\u00e0n b\u1ed9 gi\u00e1 tr\u1ecb \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i th\u00e0nh ch\u1ee9ng kho\u00e1n v\u1ed1n theo th\u00f4ng b\u00e1o c\u1ee7a nh\u00e0 ph\u00e1t h\u00e0nh.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29914"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=29914"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29914\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=29914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=29914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=29914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}