I Hold 25 Debentures Of Essar Gujarat Limited but now the company name is changed to Essar Steel Limited?

Question

What happened to my debetures and how can i tranfer them to share units?

Answer 1

you should be fine - i can't imagine that they wouldn't honor their debt.  you should keep receiving your coupon payments periodically.  if changing a name could erase debt, k-mart would still be around.

but you can't necessarily convert your bonds into stock.  regardless of the name change, the only way you would be able to do this is if your bonds were convertible in the first place.  if they are, and you want to convert, then just call the investor relations department from the company and ask for instructions on how you can exercise this clause.

not that i'd be in that big of a rush to convert, anyway - if they are convertible, then the bond price is already being supported by the stock price, if an exchange was rational.