http://www.asx.com.au/investor/irs/getting_started/convertible_notes.htm
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Convertible Notes (per ASX above Link)
A Convertible Note is a type of coupon paying debt security that converts to the issuers ordinary shares (equity) at maturity.
Generally speaking these securities pay a fixed (or floating) return until a certain date when the security can be converted into the underlying shares of the issuer.