要求债券持有人在令人困惑的选项菜单中做出选择，他们要么打折扣出售债券，要么选择现在或等到期之后用15或30年期的债券交换。
Bondholders are being asked to choose from a bewildering menu of options under which they can sell bonds at a discount or swap them for 15 - or 30-year bonds, either now or when they mature.
在1990年墨西哥用无法偿付的银行债务交换为价值为少于原来35%的布雷迪债券。
In 1990 Mexico swapped unpayable bank debt for so-called Brady bonds, worth about 35% less.
债券发行者往往比较愿意将他们的固定利率的债务交换成浮动利率的债务。
These bond issuers would rather swap their fixed-rate obligations for floating-rate ones.
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