Foreign currency convertible bonds (FCCBs) are a special category of bonds that are issued in currencies different from the issuing company's domestic currency. Corporates typically issue FCCBs to raise money in foreign currencies. These bonds retain all features of a convertible bond, making them attractive to both the investors and issuers.
These bonds are typically used issued by multinational corporations with a business scenario of globalisation, where they are constantly dealing in foreign currencies. They are popular in India with companies that are trying to raise funds in other currencies.[1] FCCBs are quasi-debt instruments and tradable on stock exchanges. Investors are typically hedge fund arbitrageurs or foreign nationals.
^"The ultimate guide to investing in Foreign Currency Convertible Bonds". StockGro. January 4, 2024.
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