Warrants

Warrants give the right to buy shares of a company at a pre-determined price (the exercise price or strike price) until a pre-determined exercise date. They are generally issued at the moment of bonds or shares issuances. In French, one talk of O.B.S.A. (Obligations à Bons de Souscription d'Actions), or A.B.S.A., (Action à Bons de Souscription d'Actions).