Brazil - FLRIB

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Front Loaded Interest Reduction Bonds (FLIRB)

FLIRB issued under the Brady Plan debt restructuring agreement.  Eligible for tendering in privatisation programme at 75% of face value. Brazil can repurchase the bonds in the market 2 1/2 years after issue.

Issuer: Republica Federativa do Brasil
Guarantor: None
Issue Size: USD 1,737,009,000
Maturity: April 15, 2009
Interest Rate: April 96
4 1/ April 98 April 00
thereafter......................6-month LIBOR plus 13/16%
Coupon Frequency: Semi-annual
Coupon Dates: April 15 & October 15
Day Count: 30/360
Issue Date: April 15, 1994
Amortisation: Repayable in 13 equal semi-annual installments beginning April 15, 2003.
Options: Callable at par plus accrued interest on coupon dates if no default
Currency: US Dollar
Form: Bearer and registered securities
Denominations: $250,000 and integral multiples of $1,000
Credit Rating: not rated
Principal Collateral: None
Interest Payment Collateral: 12 month rolling interest payment guarantee for the first six years only
secured by US agency or similar securities.

Settlement Information

Paying Agent: Chase Manhattan, London
Bloomberg Ticker: BRAZIL
CUSIP: TT3163223
ISIN: XS0049993123
Common Code: 004999312
Valoren: 232101