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this is a lecture from open tuition to benefit from the lecture you should download the free lecture notes from open tuition dot-com following on from our financial liabilities in the last session were now gonna move it on to look at convertible debentures which if memory serves me right in FM was one of the harder aspects its still hard enough its still a challenge and will be a challenge if it crops up within the exam so whats it all about okay why was it difficult the reason why was difficult was because it was a liability but it was a special type of liability wasnt it whereby a company would borrow money and instead of being obliged to pay that money back what they did is they created a convertible debentures that that gave the investor the holder of the debenture the option instead of to take the cash back at the end of the debt life would be to take shares instead okay which can be much more beneficial concert because if you take on a shirt as opposed to taking the cash th
