Brady Bonds definition

Brady Bonds means debt obligations, generally denominated in U.S. dollars, issued under the framework of the "Brady Plan" that are rated A- or better by S&P.
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Brady Bonds means securities created through the exchange of existing commercial bank loans to sovereign entities for new obligations in connection with a debt restructuring under a plan introduced by former U.S. Secretary of the Treasury Nicholas F. Brady.
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Examples of Brady Bonds in a sentence

  • This Agreement is published by the Emerging Markets Traders Association and addresses options on emerging markets instruments such as Brady Bonds and similar securities.

  • Brady Bonds involve various risk factors including the history of defaults with respect to commercial bank loans by public and private entities of countries issuing Brady Bonds.

  • Certain Funds may invest in debt obligations commonly referred to as “Brady Bonds.” Brady Bonds are created through the exchange of existing commercial bank loans to foreign borrowers for new obligations in connection with debt restructurings under a plan introduced by former U.S. Secretary of the Treasury, Nicholas F.

  • There can be no assurance that Brady Bonds in which a Fund may invest will not be subject to restructuring arrangements or to requests for new credit, which may cause the Fund to suffer a loss of interest or principal on its holdings.

  • The three indices are: - JP Global: global government bonds of industrial countries (comprises the 20 biggest international bond-markets)- JP Europe: European government bonds (comprises the 14 biggest european bond-markets)- JP EMBI+ Brady: government bonds of emerging markets (only Brady Bonds), comprises14 countries.

  • In addition thereto, the Sub-Fund may also invest in high yield instruments denominated in U.S. Dollar such as Brady Bonds or floating or fixed rate loans as well as fixed or floating rate instruments denominated in local currencies, including floating rate notes and discount notes.

  • Two Brady Bonds (US$408 million in remaining principal) and one private placement domestic currency denominated bond (US$200 million in principal at the then current exchange rate) were excluded.

  • In early 1995, an amendment [44] to the ordinance governing swaps with Brady Bonds resulted in:– The introduction of limitations for capital repatria- tion and exportation of profits (such a restriction is pre- sent in all debt conversion programs).

  • This approach is also used in Bems and Jönsson Hartelius (2006) and Cook and Devereux (2006).We use the J.P. Morgan Emerging Market Bond Index spread on Brady Bonds as our measure of the Mexican interest premia, as discussed previously in section 2.

  • The total volume of debt instruments used as payment instruments in privatization transactions, including both Brady Bonds and domestic debt bonds, was USD 412.7 mil- lion (see Table 4-1).

Related to Brady Bonds

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • Series A Bonds means the Series A Senior Secured Nuclear Asset-Recovery Bonds issued by the Issuer on June 22, 2016.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • Option Bonds means Current Interest Bonds, which may be either Serial or Term Bonds, which by their terms may be tendered by and at the option of the Owner for purchase prior to the stated maturity thereof.

  • Transition bonds means bonds, notes, certificates of

  • Subsequent Bonds means any Bonds issued after the First Issue Date on one or more occasions.

  • Previously Issued Bonds means all Bonds that have been issued by CFD No. 2001-1 prior to the date of prepayment.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • School Bonds means School Obligations issued as Bonds.

  • 2022 Notes means the 6.25% Senior Notes due 2022 issued by the MLP and Finance.

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • Issuer’s Bonds means any Bonds which are owned by the Issuer or any Affiliate of the Issuer.

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • 2029 Notes has the meaning specified in the recitals of this Supplemental Indenture.

  • 2014 Notes means the aggregate principal amount of US$399,517,000 of 10.25% Guaranteed Senior Notes Due 2014 issued pursuant to the 2014 Note Indenture.

  • 2021 Notes means the 4.700% Senior Notes due 2021, originally issued by Ensco plc (now Valaris), a public limited company organized under the laws of England and Wales.

  • Initial Bonds means the Bonds issued on the First Issue Date.

  • 2015 Notes means the 8.375% senior notes due 2015 in the principal amounts of $615 million and €500 million issued pursuant to the 2015 Notes Indenture.

  • 2011 Notes means those certain notes issued pursuant to the Note Purchase Agreement dated as of March 22, 2011 among the Company and the purchasers named in Schedule A thereto.

  • Outstanding Parity Bonds means the Outstanding Series 2010B Bonds, Series 2011A Bonds, Series 2012A Bonds, Series 2014 Bonds, Series 2015 Bonds, Series 2016 Bonds, Series 2017 Bonds, and Series 2019A Bonds.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.