A standard BOND that is issued with attached WARRANTS (ie, long dated OPTIONS), which can often be detached and traded separately. By selling the package, the issuer lowers its effective COST OF CAPITAL. The bond, which can be denominated in one of various currencies and carry a maturity ranging from 1 to 10 years, is typically issued at PAR VALUE, but its ongoing value with warrants retained depends on the INTRINSIC VALUE and TIME VALUE of the warrants. While attached warrants can be issued on a range of references, they are often linked to the price of the issuer

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