Which of the following statements correctly describe the term ‘convertible debentures’ as used in corporate and financial world ?

It is the debenture which is issued as a ‘bonus issued’ to the holders.

It a the debenture which after a specified time gap

It is the debenture is issued by a company with the intention to buy it back after a specified time gap

These are debentures issued to the main promoters of a company, they are not available for trading in the market as they are payable only at time of the closure of the business by the company