Brazil Starts Swap of Foreign Debt Titles

Brazil’s National Treasury begins an international operation today involving the exchange of titles of the foreign debt (C-Bonds), in order to improve the profile of future payments.

This means that the titles, which are due in 2014, will be exchanged for titles with later expiration dates, to extend the payments period.


US$ 7.4 billion in C-Bonds (Capitalization Bonds) were issued in 1994, with an expiration date in April, 2014.


Provision was made for biannual redemptions, beginning in 2004. There are still US$ 5.6 billion in C-Bonds on the market.


According to information recently disclosed by the secretary of the Treasury, Joaquim Levy, the reason for the exchange is that market conditions are favorable.


Especially since last month, when Brazil completed its program of foreign exchange acquisitions for the year, and the market quotation of the country’s major foreign debt title exceeded 100% of its par value.


ABr – www.radiobras.gov.br

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Petrobras Wants to Buy Back US$ 1 Billion in Bonds

Brazil’s state-controlled oil company Petróleo Brasileiro S.A., better known as Petrobras announces that its ...

Brazil Pays Off UN Debt After Over 10 Years of Deadbeatness

Brazil’s Ministry of Foreign Relations has announced that Brazil has paid off its UN ...

German Multinational Serves Brazilians Exclusive Line of Teas

England, India and Morocco are all themes of teas developed by the brand of ...

Abranches’ Sneak Preview

American audiences will soon have the chance to know the work of filmmaker Aluizio ...

Brazil Shoe Maker Grendene Boosts Revenues from Foreign Sales by 23%

Brazil's shoe manufacturer Grendene boosted by 12% its gross revenues in the third quarter ...

Brazil’s Main Stadium for World Cup Reopens 4 Months Late and Unfinished

The Maracanã stadium in Rio, venue for next year’s World Cup final and the ...

Drought and Low Price Batter Brazil’s Grain Crop

This year’s Brazilian grain crop is expected to attain 113.468 million tons, 4.94% less ...

Brazil Stocks Fall. Blame It on China!

Brazil stocks declined this Thursday, following word that China hiked interest rates. The People’s ...

Protest march in Brazil

Unhappy with Slow Pace of Change Brazil’s Left Wants New Economic Model

Assuming a second term of office, Brazilian President Luiz Inácio da Silva told Congress: ...

Brazil Cracks Down on Child Porn

Brazil’s subcommission on pedophilia and child pornography at the Secretatiat of Human Rights is drawing ...