Credit derivatives are soaring in value and payment-in-kind notes (which pay interest with more debt, rather than cash) are in vogue.

信贷衍生工具价值的不断飙升，实物支付票据(用更多的债务来支付利息，而不是用现金)非常盛行。

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On the second tranche of eight-year money, Banks can choose either a small proportion of higher interest payment-in-kind notes or a higher guarantee in the event of a repayment shortfall.

第二部分是8年期的资金偿还，银行可以选择低比例的较高利率实物支付票据(PIK)，或是为防偿付不足而选择获得较高的担保。

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Also included is a new Department of Defense (DOD) General Provision that would authorize the Secretary of the Navy to receive and retain payment in-kind for the settlement of the longstanding A-12 aircraft contract litigation.

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Aside from the infrastructure, which Japan simply transferred to China once the in-kind payment in resources had been made, China also got a whole lot of know-how.

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While the impact of this debt burden was somewhat ameliorated in the near term by the carefully constructed payment-in-kind features, it is incompatible with achieving a competitive cost structure, funding sorely needed capital improvements and long-term viability.

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