The Bonds is either expressible and covert to shares or take money out when due date. it depends on the bonds holders.
LNC only issued relative a small amount of bonds exercise price would be 3.40 from now on to 3 years.
I would predict that the SP price of LNC by 2015 will be over $3.40. So, I assume at least 80% of Bonds holders will take up LNC'SP by 2015.
another 20% bonds holders could either sold it before due date and or take money by due date.
I think, Lnc has done a smart move.
Cheers You have a good long weekend
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