| The issuer promises to repay the bondholder the amount borrowed, or principal, at a specific future date, the maturity or redemption date. |
| This convertible bond can be converted at any time at the choice of the bondholder until ten days prior to maturity of the convertible bond. |
| The issuer further promises to pay the bondholder interest at a defined annual rate until then. |
| Each bondholder may also require Legrand France to redeem its Bonds early upon the occurrence of a hostile change of control of the Company. |
| Every bondholder shall be entitled to participate in the meeting or to be represented by any person of his choice. |
| But if the market is right and a bondholder haircut is inevitable, what happens to fragile, debt-holding European banks? |
