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Loan Stock

Shares of common or preferred stock used as security to obtain a loan from another party. Like a typical loan, the loan has a fixed interest rate and can be secured or unsecured. Similar to an irredeemable convertible unsecured loan stock, a secured loan stock may also be referred to as a convertible loan stock if it can be converted into common shares directly under certain circumstances and at a predetermined conversion rate (ICULS).

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