Venezuela - FLRIB A

Venezuela - Front-Loaded Interest Reduction Bond Series A

FLIRB  issued under the Brady Plan restructuring agreement.

Obligor: The Republic of Venezuela
Guarantor: None
Issue Size: USD 1,670,370,000
Maturity: March 31, 2007
Interest Rate: 5%............................to March 31, 1992
6%............................to March 31, 1994
7%............................to March 31, 1995
6-month LIBOR plus 7/8% thereafter
Coupon Frequency: Semi-annual
Coupon Dates: March 31 & September 30
Day Count: 30/360
Issue Date: December 18, 1990
Amortisation: Repayable in 21 equal semi-annual installments beginning March 31, 1997
Options: Callable at par with accrued interest if no default.
Currency: USD
Form of Instrument: Bearer securities
Denominations: $250,000 and integral multiples thereof
Credit Rating: Moody's: Ba3
Principal Collateral: None
Interest Payment Collateral: 12-month rolling interest payment guarantee until April 1, 1995
Notes: Issued as part of the Brady Plan debt restructuring.