Oh please,
1. you just got moderated, again, yesterday;
2. if you have known the difference between face value and market value then you would've known the market value of bonds and securities only is consequence to traders on secondary market, NOT the issuer;
3. Even novices in finance would never say "certain market expected write-off in face debt". Trading of bonds/securities on the secondary market can have a discounted price, subject to changes to interest rate and forex rate, but there will never be "write off" as you claimed. Again, this has no implication for the issuer, as the issuer's repayment amount (face value) has already been decided. On that note, nobody with an inkling of financial education would say that entire paragraph of jumbo mumbo you wrote.
SGH Price at posting:
26.3¢ Sentiment: None Disclosure: Held