Firstly, convertible debentures offer a fixed rate of return that is higher than the interest rate offered by traditional bonds or other fixed income investments. This makes them an attractive investment option for investors who are looking for a predictable stream of income.

Secondly, convertible debentures provide investors with the potential for capital appreciation. The conversion feature allows investors to convert their debentures into company shares at a predetermined rate, which can potentially result in significant capital gains if the company's stock price rises.

Thirdly, convertible debentures are flexible investment option that can be customised to meet the specific needs of investors. They can be issued with different interest rates, conversion rates, and maturity dates, allowing investors to choose the debentures that best fit their investment goals and risk tolerance.

Fourthly, convertible debentures provide downside protection for investors. Since they are issued by a company, they are generally considered less risky than investing directly in the company's stock. In addition, the fixed interest payments provide a measure of downside protection, as investors continue to receive income even if the company's stock price falls.