I thought I was seeing things when reviewing a prospectus a minute ago for Hannon Armstrong Sustainable Infrastructure Capital (HASI).
They are offering $125 million in 0% senior convertible notes maturing in 2023.
Looking through it I guess you are simply buying a call option on the common shares with a $48.36/shares strike good for 3 years.
I guess in theory this could work out, but how about 1 or 2% for the holder?
This one I know I will take a pass on.