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![dvandeventer Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::19619569.png) Donald van Deventer [@dvandeventer](/creator/twitter/dvandeventer) on x 2439 followers
Created: 2025-07-22 21:20:12 UTC

@SASSoftware: Coupon payments are subordinate to principal, because there is no recovery on coupons in default. See “The Valuation of Corporate Coupon Bonds,” 2025, Journal of Financial and Quantitative Analysis

Example: @Toyota @SASJapan

![](https://pbs.twimg.com/media/GwfdRzVXcAAuHA4.png)

XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947768664528142414/c:line.svg)

**Related Topics**
[$tm](/topic/$tm)
[stocks consumer cyclical](/topic/stocks-consumer-cyclical)

[Post Link](https://x.com/dvandeventer/status/1947768664528142414)