convert

convert definition - business

convert

  1. To exchange one security for a different security. For example, the owner of a convertible bond can choose to submit the bond to the issuer for conversion into a specified number of shares of stock.
  2. To switch life insurance coverage from term insurance to permanent insurance.
  3. To change a building from rental units to condominiums. Building owners operating under restrictions of rent control find condo conversion particularly appealing.
  4. See switch 2.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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