Figure 1. Histogram of convertible bonds by time to maturity
This histogram divides the convertible bonds in our sample, as of
September 10, 2012, into different bins according to the time to
maturity. The x-axis represents the maturity in years and the y-axis
represents the number of convertibles in each bins. A maturity bin ofn covers contracts with a time to maturity ranging fromn-1 years to n years.