One difference between a regular bond and a convertible bond is that a regular bond has

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The interest rate on a regular bond is typically higher than on a convertible bond because the convertible bond allows the bondholder to convert the bond into stock, which provides the holder with potential upside and lowers the risk of holding the bond. Therefore, convertible bonds tend to offer a lower interest rate in exchange for the option to convert to equity. The maturity of the bond is not necessarily different between regular and convertible bonds.

One Difference Between a Regular Bond and a Convertible Bond