An Assortment of Brady Flavors - Front Loaded Interest Reduction Bonds (FLIRB)

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Front Loaded Interest Reduction Bonds (FLIRB)

  • Bearer 18 year amortizing semi-annual bond initially offered with a fixed below market coupon rate which is later replaced by a LIBOR market rate until maturity

  • Rolling interest guarantees generally of 12 months available only during the first 5 or 6 years

Debt Conversion Bonds (DCB)

  • Bearer 18 year amortizing semi-annual LIBOR market rate issued at a par

  • No collateral is provided

New Money Bonds (NMB)

  • Bearer 15 year amortizing semi-annual LIBOR market coupon issued at par

  • No collateral is provided