Venezuela - Discount Bond A

Venezuela - Discount Bond Series A

Discount Bond issued under the Brady Plan debt restructuring agreement, with detachable, unsecured, negotiable Oil Obligation Certificates at the rate of 5 certificates per $1,000 bonds, entitling the holder to semi-annual cash payments beginning 1996 when the price of crude oil exports exceeds $26.00 per barrel up to a ceiling of $3.00 per warrant.

Obligor: The Republic of Venezuela
Guarantor: None
Issue Size: USD 968,562,000
Maturity: March 31, 2020
Interest Rate: 6-month LIBOR plus 13/16%
Coupon Frequency: Semi-annual
Coupon Dates: April 18 & October 18
Day Count: Actual/360
Issue Date: December 18, 1990
Amortisation: None, bullet at maturity
Options: Callable at par with accrued interest if no default.
Currency: USD
Form of Instrument: Registered securities
Denominations: $250,000 and integral multiples of $1,000
Credit Rating: Moody's: Ba3
Principal Collateral: 30-year zero-coupon US Treasury bonds held at the US Federal Reserve
Interest Payment Collateral: 14-month rolling interest payment collateral guarantee