Which of the Following Is True of the Convertible Type

Which of the following is true of the convertible type of bond option?

A) It gives the bondholder the option to convert the bond into another security,typically the ordinary equity of the firm issuing the convertible bond.
B) It gives the issuing firm an option to convert the bond into another security,typically the ordinary equity of the firm issuing the convertible bond.
C) It mandates a conversion of the regular bonds into another security,typically the ordinary equity of the firm issuing the convertible bond,on maturity.
D) It is similar to a perpetuity and mandates a conversion of the regular bonds into another bond subsequently issued by the firm immediately after maturity.