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

For companies that we thought had backdated stock options, that we could buy their bonds at what they would trade for without this potential event of default.

对于那些我们认为已经追溯股票期权的公司，我们会在没有潜在违约风险下进行交易的价格,购买他们的债券。

耶鲁公开课 - 金融市场课程节选

They deal with, principally, state and local governments who are issuing bonds to raise money for their activities, like New Haven, for example, or any other state or local government.

他们主要与,州和当地政府打交道,这些政府机构通过发行债券筹资,例如纽黑文市,或者其他的州,或者其他的当地政府

耶鲁公开课 - 金融市场课程节选