Brazil - Discount Z Bond

Discount Z Bond (1994)

Discount Z Bond ossued under the Brady Plan restructuring agreement in Bearer and Registered securities form. Eligible for tendering in privatisation programme at face value. Brazil can repurchase the bonds in the market 2 1/2 years after issue.
Tranches: Z-L (Benchmark), YL3, DBL3, DBL4
Tranche YL4, Z-U never issued never issued as subscriptions failed to reach the minimum amount of USD 100Million. 

Issuer: Republica Federativa do Brasil
Guarantor: None
Issue Size: USD 7,388,209,994
Maturity: April 15, 2024
Interest Rate: 6-month LIBOR plus 13/16%
Coupon Frequency: Semi-annual
Coupon Dates: April 15 & October 15
Day Count: Actual/360
Issue Date: April 15, 1994
Amortisation: None, bullet at maturity
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: 30-year zero-coupon US Treasury bonds
Interest Payment Collateral: 12-month rolling interest guarantee

Tranche Z-L (Benchmark)

Tranche Size: USD 7,111,746,000
(including exchange of series YL1, PDL1, YL2, PDL2)
Principal Collateral: Full
Interest Guarantee: Full
Listing: Luxembourg
Paying Agent: Chase Manhattan, London
Bloomberg Ticker: BRAZIL
ISIN: XS0049981201
CUSIP: TT3163207
Common Code: 004998120
Valoren: 230889
France: 818735

Tranche YL3

Tranche Size: USD 175,455,000
Principal Collateral: Full
Interest Guarantee: Delivered October 15, 1995
Conversion into series Y: n/a
Conversion into series Z: October 15, 1995
ISIN: XS0049984999
CUSIP: TT3179724
Common Code: 004998499
Valoren: 230931
Wertpapier/Austrian: 414035
France: 818736

Tranche DBL3 

Tranche Size: USD 788,994
Principal Collateral: Delivered October 15, 1995
Interest Guarantee: Delivered October 15, 1995
Conversion into series Y: n/a
Conversion into series Z: October 15, 1995
ISIN: XS0049992158
CUSIP: TT3179773
Common Code: 00499215
Valoren: 231649
Wertpapier/Austrian: 414202

Tranche DBL4

Tranche Size: USD 50,220,000
Principal Collateral: Delivered April 15, 1996
Interest Guarantee: Delivered April 15, 1996
Conversion into series Y: n/a
Conversion into series Z: April 15, 1996
ISIN: XS0049992828
CUSIP: TT3179781
Common Code: 004999282