A restructured commercial bank loan to poor countries, denominated in US dollars.
Example sentencesExamples
General government debt has fallen fast, and this decline was further accelerated by the weaker US dollar and buy-backs of Brady bonds in 2004 and 2005.
The Government bought back $937.5 million in Brady bonds on January 28, slashing part of its debt to foreign creditor banks seven years in advance.
In March, the Government suggested that investors exchange Brady bonds for new Eurobonds, denominated in dollars or euro, or buy Eurobonds for cash.
Bulgaria's debt deal, which includes the swop of $800 million worth of Brady bonds into dollar-denominated eurobonds maturing in 2015, was approved by Parliament last Wednesday.
Part of the banks' original principal would be written off and the remainder would be paid by the issue of new 30-year bonds called Brady bonds.
Definition of Brady bond in US English:
Brady bond
noun
A restructured commercial bank loan to poor countries, denominated in US dollars.
Example sentencesExamples
Part of the banks' original principal would be written off and the remainder would be paid by the issue of new 30-year bonds called Brady bonds.
Bulgaria's debt deal, which includes the swop of $800 million worth of Brady bonds into dollar-denominated eurobonds maturing in 2015, was approved by Parliament last Wednesday.
In March, the Government suggested that investors exchange Brady bonds for new Eurobonds, denominated in dollars or euro, or buy Eurobonds for cash.
General government debt has fallen fast, and this decline was further accelerated by the weaker US dollar and buy-backs of Brady bonds in 2004 and 2005.
The Government bought back $937.5 million in Brady bonds on January 28, slashing part of its debt to foreign creditor banks seven years in advance.