• Categories
  • Archives

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Your email address will not be published.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

Brazilian Gol Adopts Boeing Toolbos

Brazilian Airline Gol Adopts Boeing’s Toolbox for Its 737s

Brazilian Airline Gol announced that it has chosen Boeing's Maintenance Performance Toolbox to help ...

Hacker or Google’s Inside Job? In Brazil Controversial Orkut Pages Disappear

Some Brazilians are accusing Google of suppressing freedom of expression in the still of ...

Brazilian Judiciary Runs Amok in Election Campaign

Reporters Without Borders today condemned measures taken by courts in Brazilian capital BrasÀ­lia and ...

Brazilian Inventor Converts Any Fruit or Vegetable into Flour

Brazilian Researcher José Amado Alves, who works as a production supervisor for a mining ...

IMF Praises Brazil’s Bolsa Famí­lia and Forecasts 4.3% Growth for LatAm

Latin America and the Caribbean are forecasted to expand 4.3% next year following this ...

Boeing, Dassault and Saab on the Run to Sell Brazil 100 Fighter Jets

Brazil's Air Force has just announced this Wednesday, October 1st, that it had chosen ...

Brazil Is Putting On Soccer Shoes for Germany’s World Cup

The Brazilian Export Promotion Agency (Agência de Promoção de Exportações e Investimentos) (Apex-Brasil), says ...

Brazil Becoming a Cocaine Producer

Cocaine production in Brazil is beginning to worry international agencies. The representative to Brazil ...