Shek Pik dense, potential into the cloud table, Yunsan Riverside, birds fly tree.

石壁森森，势入云表，云生峦畔，鸟飞树海。

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The PIK rates range from 1.5 percent up to 2.5 percent in certain years of the maturity.

在贷款期限内，实物券利率范围从1.5%至2.5%浮动。

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Middle and lower reaches of the River from the vicinity of Shek Pik to Walled coconut, gentle tame the river.

万泉河的中下游，从石壁至椰子寨一带，河水温顺平缓。

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Since the credit crisis, underwriting standards have improved and these PIK loans are no longer available.

FORBES: Are Floating Rate Funds The Wrong Answer To Rising Rates?

One recent example is payment-in-kind toggle notes, or PIK toggles.

FORBES: Are Bond Investors Taking On More Risk?

But as PIK loans written in 2006 and 2007 begin to term out over the next few years, investors in these instruments may suffer the same fate as investors in negative amortization subprime loans.

FORBES: Are Floating Rate Funds The Wrong Answer To Rising Rates?