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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 2442 followers
Created: 2025-07-24 15:20:16 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: @Mitsui_Sumitomo @SASJapan

![](https://pbs.twimg.com/media/GwoeE5OXwAADjW1.png)

XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948402861097767324/c:line.svg)

[Post Link](https://x.com/dvandeventer/status/1948402861097767324)