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Brady bond

U.S. dollar-denominated bond issued by an Emerging market, particularly those in Latin America, and collateralized by U.S. Treasury zero-coupon bonds. Brady bonds arose from an effort in the 1980s to reduce the Debt held by less-developed countries that were frequently defaulting on Loan. The bonds are named for Treasury Secretary Nicholas Brady, who helped International monetary organizations institute the Program of debt-reduction. Defaulted loans were converted into bonds with U.S. zero-coupon Treasury bonds as Collateral. Because the Brady bonds were backed by Zero-coupon bond, repayment of Principal was Insured. The Brady bonds themselves are coupon-bearing bonds with a variety of rate options (fixed, variable, step, etc.) with maturities of between 10 and 30 years. Issued At par or at a discount, Brady bonds often include warrants for raw materials available in the country of origin or other Option.

Related Terms: 27 At par, Brady bond, Bear, Coupon, Coupon bond, CLU, Collateral, Debt, Default, Emerging market, International, Insured, Inc., Loan, Monetary, Market, Net, Option, Principal, Program, Ring, SEC, Sue, Treasury Bond, Treasury, U.S. Treasury, Zero-coupon bond
Other Related Pages: Category: Global Starting With: B
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