# Exchange offer

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In [finance](/source/Finance), [corporate law](/source/Corporate_law) and [securities law](/source/Securities_law), an **exchange offer** is a form of [tender offer](/source/Tender_offer)[1] in which [securities](/source/Securities) are offered as consideration instead of cash.

In a **bond exchange offer**,[2] [bondholders](/source/Bondholder) may consensually exchange their existing [bonds](/source/Bond_(finance)) for another class of [debt](/source/Debt) or [equity](/source/Share_capital) securities. Companies may often seek to exchange their securities to extend maturities, reduce debt outstanding or convert debt into equity.

## See also

- [Financing](/source/Financing)
- [Tender offer](/source/Tender_offer)

## References

1. ["Debt Tender and Exchange Offers: The Basics"](https://www.debevoise.com/insights/publications/2019/11/debt-tender-and-exchange-offers-the-basics). *Debevoise*. Retrieved 2017-09-29.

1. ["Bond Exchange Offers or Collective Action Clauses?"](https://www.econstor.eu/bitstream/10419/219494/1/econpol-wp-32.pdf). Retrieved 2017-09-29.

clea

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Adapted from the Wikipedia article [Exchange offer](https://en.wikipedia.org/wiki/Exchange_offer) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Exchange_offer?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.