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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950103-09-003230.txt : 20091211
<SEC-HEADER>0000950103-09-003230.hdr.sgml : 20091211
<ACCEPTANCE-DATETIME>20091211151738
ACCESSION NUMBER:		0000950103-09-003230
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20091211
DATE AS OF CHANGE:		20091211
EFFECTIVENESS DATE:		20091211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alexandra Convertible Bond Master Fund, Ltd.
		CENTRAL INDEX KEY:			0001452401
		IRS NUMBER:				980585637
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-125266
		FILM NUMBER:		091236066

	BUSINESS ADDRESS:	
		STREET 1:		C/O CITCO BVI LTD, CITCO BUILDING
		STREET 2:		P.O. BOX 662
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			-
		BUSINESS PHONE:		011 5999 732 2000

	MAIL ADDRESS:	
		STREET 1:		C/O CITCO BVI LTD, CITCO BUILDING
		STREET 2:		P.O. BOX 662
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			-

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALEXANDRA CONVERTIBLE BOND MASTER FUND LTD
		DATE OF NAME CHANGE:	20081217
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001452401</cik>
        <entityName>Alexandra Convertible Bond Master Fund, Ltd.</entityName>
        <issuerAddress>
            <street1>c/o Citco Fund Services (Curacao) N.V.</street1>
            <street2>Kaya Flamboyan 9</street2>
            <city>Curacao</city>
            <stateOrCountry>P8</stateOrCountry>
            <zipCode>-</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>011 5999 732 2000</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList></issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>ALEXANDRA CONVERTIBLE BOND MASTER FUND LTD</previousName>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>British Virgin Islands business company</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>Alexandra Investment Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>780 Third Avenue</street1>
                <street2>35th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mikhail</firstName>
                <lastName>Filimonov</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>780 Third Avenue</street1>
                <street2>35th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Hughes</firstName>
                <lastName>Lamotte</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Atlas Capital Limited, Foxglove Hous</street1>
                <street2>166 Piccadilly</street2>
                <city>London</city>
                <stateOrCountry>X0</stateOrCountry>
                <zipCode>W1V 9DE</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <lastName>Stevenson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Mayflower Management Services, , Bam</street1>
                <street2>11 Harbour Road</street2>
                <city>Paget</city>
                <stateOrCountry>D0</stateOrCountry>
                <zipCode>PG 01</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-048669</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-12-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>17334605</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>However, the Promoter serves as the investment manager and receives an annual asset-based management fee and a performance fee. Mr. Filimonov (a director) is a principal of the Promoter.  The independent directors receive an annual fee for their services.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Alexandra Convertible Bond Master Fund, Ltd.</issuerName>
                <signatureName>/s/ Mikhail Filimonov</signatureName>
                <nameOfSigner>Mikhail Filimonov</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2009-12-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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