In the eyes of the central bank, any meddling with maturity or anything less than the receipt of full-payment at maturity would potentially constitute a credit event putting the nation at default.

FORBES: Bond Prices Weaken As Stocks Rebound On Merger Monday

Orange Switzerland Wednesday sold a so-called payment-in-kind bond debt without any coupon payments that instead pays interest in one installment at maturity at a price and speed that had all the hallmarks of being a "top of the market trade, " according to Duncan Warwick-Champion, head of corporate research at ECM Asset Management.

WSJ: Bond Offer Shows Limits of Yield Hunt