swap bond

基本解释

Germany has backed a solution involving a bond swap, which ratings agencies could ultimately consider a default.
德国支持债券互换的观点，评级机构最终会考虑违约问题。
blog.sina.com.cn
In a bond swap, you buy one bond on one market and sell it at the same time on another. This is called arbitrage.
在债券互换交易中，你可在一个市场上购买一种债券，同时又在另一个市场上卖出，这叫套利。
blog.sina.com.cn
The country successfully did a voluntary bond swap in which the government offered to exchange bonds coming due in a few years for similar ones that matured later.
在这一交易中，乌拉圭政府把几年内到期的债券换成了较晚到期的类似债券。

Last year, Greece saw its privately held debt cut by more than half in a bond swap.
NPR: Greece: Economic Recovery In Sight
That same year, Argentina offered its creditors a bond swap, in which they would suffer a 65% loss.
ECONOMIST: Hold-out creditors seize an Argentine ship in Ghana
The latest bonds pay interest of 15%—the same rate agreed by Domingo Cavallo, a former finance minister, in a notorious bond swap in 2001 on the eve of the collapse.
ECONOMIST: Argentina