So, for companies that could pay you back, but their bonds are trading below par, probably because they have a low coupon.

因此，公司也许可以支付你，但是它们的债券只能以低于票面价值交易，很可能是因为他们的票息很低。

耶鲁公开课 - 金融市场课程节选

We were interested in finding bonds trading below par where we thought there was a chance that companies would not file their financial statements on time.

我们对发现以低于票面价值进行交易的债券很感兴趣,我们认为在没有按时发布它们财务报表的公司,时机有可能发现。

耶鲁公开课 - 金融市场课程节选