Isn't it up to the bond holder to decide if they want cash or...

Isn't it up to the bond holder to decide if they want cash or shares?
The company can only choose to pay the bond early in cash but the bond holder normally has the option to either convert to shares prior to the expiry date or receive the face value of the bond in cash on conversion.

I trade convertible bonds and I have never seen a bond which gives the company an option to convert into shares without the bondholder first agreeing to it.