To edit vector text as a vector object, convert it to curves. You can then move or add nodes, change the angles of line segments, and perform other edits using the Pen tool's Edit mode. Use this feature to create interesting text.
You can convert each letter into its own object, or convert the entire text into one object with each letter as a separate contour within the object path.
After you convert text to curves, it is no longer text—so you cannot change the characters, change its font or leading, or do any other text edits.
To convert text to curves:
Use the Object Selection tool to select the text.
Do one of the following:
To convert the entire text object into one vector object, choose Objects > Convert Text to Curves > As Single Shape. This produces one path containing a contour for each letter.
To convert each letter into a separate vector object with its own path, choose Objects > Convert Text to Curves > As Character Shapes to convert each letter of the text string into a separate vector object with its own path. Note that to edit the nodes of the text, you must select the letters individually.
To edit the nodes, choose the Pen tool and then choose the Edit mode in the Tool Options palette. For more information, see Editing Paths and Contours.
About Vector Floating and Selection Text
Aligning and Spacing Text on Object Paths
Creating Text with Image Patterns