{"id":31644,"date":"2023-12-07T10:54:02","date_gmt":"2023-12-07T10:54:02","guid":{"rendered":"https:\/\/masterskills.org\/blog\/trai-phieu-chuyen-doi-convertible-bond-la-gi-uu-va-nhuoc-diem-cua-trai-phieu-chuyen-doi.html"},"modified":"2023-12-07T10:54:02","modified_gmt":"2023-12-07T10:54:02","slug":"trai-phieu-chuyen-doi-convertible-bond-la-gi-uu-va-nhuoc-diem-cua-trai-phieu-chuyen-doi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/trai-phieu-chuyen-doi-convertible-bond-la-gi-uu-va-nhuoc-diem-cua-trai-phieu-chuyen-doi.html","title":{"rendered":"Tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i (Convertible Bond) l\u00e0 g\u00ec? \u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i"},"content":{"rendered":"
\n
\n
\"convertible-bonds-1\"<\/div>\n
\n

H\u00ecnh minh h\u1ecda. Ngu\u1ed3n: dautuphaisinh<\/p>\n<\/div>\n<\/div>\n

Tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i (Convertible Bond)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i<\/b> trong ti\u1ebfng Anh l\u00e0 Convertible Bond<\/b>. Tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i<\/i>\u00a0l\u00e0 lo\u1ea1i tr\u00e1i phi\u1ebfu c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n cho ph\u00e9p tr\u00e1i ch\u1ee7 quy\u1ec1n \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i tr\u00e1i phi\u1ebfu sang c\u1ed5 phi\u1ebfu (th\u00f4ng th\u01b0\u1eddng l\u00e0 c\u1ed5 phi\u1ebfu th\u01b0\u1eddng) c\u1ee7a c\u00f4ng ty. Trong \u0111\u00f3:<\/p>\n

T\u1ec9 l\u1ec7 chuy\u1ec3n \u0111\u1ed5i<\/b> v\u00e0\u00a0th\u1eddi h\u1ea1n chuy\u1ec3n \u0111\u1ed5i<\/b> \u0111\u01b0\u1ee3c \u1ea5n \u0111\u1ecbnh ngay t\u1eeb l\u00fac ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu v\u00e0 ch\u1ec9 thay \u0111\u1ed5i khi c\u00f4ng ty ph\u00e1t h\u00e0nh c\u00f3 s\u1ef1\u00a0t\u00e1ch ho\u1eb7c g\u1ed9p c\u1ed5 phi\u1ebfu.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m<\/font><\/h3>\n

T\u1ec9 l\u1ec7 chuy\u1ec3n \u0111\u1ed5i <\/b>th\u1ec3 hi\u1ec7n s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu nh\u1eadn \u0111\u01b0\u1ee3c khi chuy\u1ec3n \u0111\u1ed5i m\u1ed9t tr\u00e1i phi\u1ebfu. T\u1ec9 l\u1ec7 n\u00e0y \u0111\u01b0\u1ee3c c\u00f4ng ty \u1ea5n \u0111\u1ecbnh ngay khi ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu \u0111\u00f3.<\/p>\n

Th\u1eddi h\u1ea1n chuy\u1ec3n \u0111\u1ed5i<\/b> \u0111\u01b0\u1ee3c c\u00f4ng ty qui \u0111\u1ecbnh r\u1ea5t \u0111a d\u1ea1ng, t\u00f9y thu\u1ed9c v\u00e0o s\u1ef1 t\u00ednh to\u00e1n v\u00e0 quy\u1ebft \u0111\u1ecbnh c\u1ee7a t\u1eebng c\u00f4ng ty, c\u00f3 lo\u1ea1i \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i b\u1ea5t k\u00ec l\u00fac n\u00e0o, c\u0169ng c\u00f3 lo\u1ea1i ch\u1ec9 \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i t\u1ea1i m\u1ed9t s\u1ed1 th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh.<\/p>\n

\u01afu \u0111i\u1ec3m<\/font><\/h3>\n

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

– T\u1ea1o th\u00eam m\u1ed9t kh\u1ea3 n\u0103ng cho c\u00f4ng ty huy \u0111\u1ed9ng v\u1ed1n tr\u00ean th\u1ecb tr\u01b0\u1eddng khi vi\u1ec7c ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu v\u00e0 tr\u00e1i phi\u1ebfu th\u00f4ng th\u01b0\u1eddng \u0111\u1ec1u kh\u00f4ng thu\u1eadn l\u1ee3i.<\/p>\n

– L\u00e3i su\u1ea5t c\u1ee7a tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i th\u1ea5p h\u01a1n tr\u00e1i phi\u1ebfu th\u00f4ng th\u01b0\u1eddng. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 th\u1ec3 cho ph\u00e9p c\u00f4ng ty huy \u0111\u1ed9ng \u0111\u01b0\u1ee3c v\u1ed1n v\u1edbi chi ph\u00ed th\u1ea5p.<\/p>\n

– Khi c\u00e1c tr\u00e1i ch\u1ee7 th\u1ef1c hi\u1ec7n chuy\u1ec3n \u0111\u1ed5i c\u0169ng c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng c\u1ea3i thi\u1ec7n c\u01a1 c\u1ea5u v\u1ed1n c\u1ee7a c\u00f4ng ty t\u1ed1t h\u01a1n.<\/p>\n

\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 mua lo\u1ea1i tr\u00e1i phi\u1ebfu n\u00e0y<\/b><\/p>\n

– \u0110\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o h\u01b0\u1edfng m\u1ee9c l\u00e3i c\u1ed1 \u0111\u1ecbnh khi ch\u01b0a ti\u1ebfn h\u00e0nh vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i v\u00e0 kh\u00f4ng ph\u1ea3i g\u00e1nh ch\u1ecbu nh\u1eefng r\u1ee7i ro c\u1ee7a c\u00f4ng ty.<\/p>\n

– Kh\u1ea3 n\u0103ng chuy\u1ec3n \u0111\u1ed5i \u0111\u01b0\u1ee3c c\u1ee7a tr\u00e1i phi\u1ebfu t\u1ea1o c\u01a1 h\u1ed9i cho ng\u01b0\u1eddi \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i nhi\u1ec1u h\u01a1n khi gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u0103ng l\u00ean.<\/p>\n

H\u1ea1n ch\u1ebf<\/font><\/h3>\n

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

– Vi\u1ec7c quy\u1ebft \u0111\u1ecbnh chuy\u1ec3n \u0111\u1ed5i (c\u1ee7a tr\u00e1i phi\u1ebfu c\u00f3 th\u1ec3 chuy\u1ec3n \u0111\u1ed5i) thu\u1ed9c quy\u1ec1n tr\u00e1i ch\u1ee7 l\u00e0m cho c\u00f4ng ty \u1edf v\u00e0o th\u1ebf b\u1ecb \u0111\u1ed9ng trong vi\u1ec7c t\u1ed5 ch\u1ee9c v\u1ed1n.<\/p>\n

N\u1ebfu c\u00f4ng ty c\u00f3 kh\u1ea3 n\u0103ng thu \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn cao, c\u00e1c tr\u00e1i ch\u1ee7 (ng\u01b0\u1eddi s\u1edf h\u1eefu tr\u00e1i phi\u1ebfu) s\u1ebd chuy\u1ec3n \u0111\u1ed5i tr\u00e1i phi\u1ebfu sang c\u1ed5 phi\u1ebfu v\u00e0 d\u1eabn t\u1edbi t\u0103ng th\u00eam s\u1ed1 c\u1ed5 \u0111\u00f4ng m\u1edbi, c\u00e1c c\u1ed5 \u0111\u00f4ng c\u0169 ph\u1ea3i chia s\u1ebb quy\u1ec1n ki\u1ec3m so\u00e1t v\u00e0 thu nh\u1eadp cho c\u1ed5 \u0111\u00f4ng m\u1edbi. \u0110\u00e2y l\u00e0 \u0111i\u1ec3m b\u1ea5t l\u1ee3i ch\u1ee7 y\u1ebfu \u0111\u1ed1i v\u1edbi c\u00f4ng ty ph\u00e1t h\u00e0nh.<\/p>\n

– M\u1ed9t \u0111i\u1ec3m b\u1ea5t l\u1ee3i kh\u00e1c l\u00e0 l\u1ee3i t\u1ee9c tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c t\u00ednh v\u00e0o chi ph\u00ed, t\u1eeb \u0111\u00f3 \u0111\u01b0\u1ee3c t\u00ednh tr\u1eeb v\u00e0o thu nh\u1eadp ch\u1ecbu thu\u1ebf c\u1ee7a c\u00f4ng ty, c\u00f2n l\u1ee3i t\u1ee9c c\u1ed5 ph\u1ea7n l\u00e0 l\u1ea5y t\u1eeb l\u1ee3i nhu\u1eadn sau thu\u1ebf c\u1ee7a c\u00f4ng ty.<\/p>\n

V\u00ec th\u1ebf khi c\u00e1c tr\u00e1i ch\u1ee7 chuy\u1ec3n \u0111\u1ed5i tr\u00e1i phi\u1ebfu s\u1ebd l\u00e0m cho thu nh\u1eadp ch\u1ecbu thu\u1ebf c\u1ee7a c\u00f4ng ty t\u0103ng l\u00ean v\u00e0 thu nh\u1eadp sau thu\u1ebf b\u1ecb gi\u1ea3m \u0111i.<\/p>\n

\u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0<\/b><\/p>\n

Khi ch\u01b0a chuy\u1ec3n \u0111\u1ed5i ho\u1eb7c n\u1ebfu kh\u00f4ng c\u00f3 c\u01a1 h\u1ed9i chuy\u1ec3n \u0111\u1ed5i th\u00ec ch\u1ec9 \u0111\u01b0\u1ee3c h\u01b0\u1edfng m\u1ee9c l\u1ee3i t\u1ee9c v\u1edbi m\u1ed9t l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n tr\u00e1i phi\u1ebfu th\u00f4ng th\u01b0\u1eddng.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, NXB T\u00e0i ch\u00ednh)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Tr\u00e1i phi\u1ebfu chuy\u1ec3n \u0111\u1ed5i (ti\u1ebfng Anh: Convertible Bond) l\u00e0 lo\u1ea1i tr\u00e1i phi\u1ebfu c\u1ee7a c\u00f4ng ty c\u1ed5 ph\u1ea7n cho ph\u00e9p tr\u00e1i ch\u1ee7 quy\u1ec1n \u0111\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i tr\u00e1i phi\u1ebfu sang c\u1ed5 phi\u1ebfu (th\u00f4ng th\u01b0\u1eddng l\u00e0 c\u1ed5 phi\u1ebfu th\u01b0\u1eddng) c\u1ee7a c\u00f4ng ty.\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\/31644"}],"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=31644"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31644\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}