To the bondholders or creditors, on the other hand, falling prices were clear gain.

——另一方面，对于债券持有人或债权人来说，跌是明显的收益。

Creditors had suffered heavy losses when the Civil War carried prices skyward while the interest rates on their old bonds remained stationary.

当内战将推高而旧债券的利率保持不变时，债权人遭受了重大损失。

Public creditors were in despair, as the market value of their bonds sank to twenty-five or even ten cents on the dollar.

公共债权人感到绝望，因为他们的债券市值跌至面值 25 美分甚至 10 美分。

He said he was confident Euro Zone creditors will now unlock funds Athens needs to repay loan to the International Monetary Fund. Yolande Knell reports.

他表示欧元区债权人将向希腊发放新一笔救助资金，支付国际货币基金组织债券，对此他信心满满。请听约兰德·奈尔的报道。

The main problem is that a clause in the restructured bonds prohibits Argentina from offering the hold-outs better terms without paying everyone else the same.

问题的关键，就在于重组债券中的一项条款，让阿根廷不能在他债权人未得到同等待遇的前提，给钉子户开出更好的条件。

But after defaulting on a bond payment last year, and with other creditors insisting upon an IMF deal, the government was left with little choice.

但在去年拖欠债券偿付，他债权人坚持要求与国际货币基金组织达成协议，政府别无选择。

It also means putting less flighty creditors in the line of fire, by adopting an EU-wide resolution regime requiring banks to issue bonds that absorb losses before big depositors do.

这还意味着，为了推行覆盖全欧洲的解决机制，要求银行在大储户承担损失之前发行债券吸收损失，这样的做法会把不那么躁动的债权人也推上火线。

The growth has been cushioned by a fall in government bond yields, which means that Japan paid less interest to its creditors last year than it did three decades ago.

政府债券收益率降缓冲了经济增长，这意味着日本去年向债权人支付的利息比三十年前要少。

The effort by Zambia to restructure its debt hit a bump when a deal it had struck with bondholders was rejected by China and France, highlighting the difficulty in getting private and official creditors to agree on debt relief.

赞比亚与债券持有人达成的一项协议遭到中国和法国的拒绝，赞比亚重组债务的努力遭遇挫折，这突显出让私人债权人和官方债权人在债务减免上达成一致的难度。

The owners of a business—whether that is a single individual or millions of stockholders—are not legally entitled to anything, except whatever happens to be left over after a business has paid its employees, bondholders and other creditors.

企业所有者——无论是个人还是数百万股东——在法律上都没有任何权利，除了企业支付给员工、债券持有人和他债权人剩的东西。