Before markets convulsed last year, privately placed convertible bonds in Asia typically commanded coupon rates of between 8% and 10%, hedge fund managers say.

对冲基金经理称，在市场去年转坏前，亚洲私募可转换债券的票面利率通常在8%至10%之间。

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The coupon rate is paid semi - annually for exchange fund notes . exchange fund notes fixings.

以外汇基金债券为例，按息票率计算的利息每半年派付一次。

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When interest rates were higher, fund managers could offset bond losses with coupon payments from higher-yielding bonds.

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Target 2025 invests in zero-coupon bonds, whose payout, as the fund's name suggests, is years in the future.

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