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).