German issuers have evidently rediscovered the convertible bond as an interesting financing instrument in the last two years. However, the generally interested reader will find very little information in the relevant textbooks on financing theory about the significance of convertible bonds, their forms and characteristics, as well as criteria for their evaluation. Moreover, the options pricing theory, which has become widespread in Anglo-Saxon literature, has only found a hesitant place in German financing textbooks. The author of this paper, which is based on a thesis supervised at my chair at the Fernuniversität Hagen, thus addresses a field that is of both theoretical interest and practical importance for the German capital market.