Printer Friendly

BRAZIL AND BANK ADVISORY COMMITTEE COMPLETE NEGOTIATIONS ON TERM SHEET

BRAZIL AND BANK ADVISORY COMMITTEE COMPLETE NEGOTIATIONS ON TERM SHEET
 WASHINGTON, Sept. 21 /PRNewswire/ -- The government of Brazil and its Bank Advisory Committee have completed negotiations on a term sheet covering the agreement in principle reached on July 9 on a debt and debt service reduction package for the country's $44 billion of medium- and long-term foreign commercial bank debt, according to a joint announcement by the Minister of Economy, Finance and Planning of Brazil, Marcilio Marques Moreira, and Citibank Vice Chairman William R. Rhodes.
 The term sheet is currently being reviewed by legal counsel for the Brazilians and the Bank Advisory Committee. Once the review process is complete, the term sheet will be translated into Portuguese for submission to the Brazilian Senate. Approval by the Senate is necessary for the debt-restructuring package to be presented to the banking community.
 The announcement of the completion of the term sheet came during the IMF/World Bank Meetings in Washington.
 -0- 9/21/92
 /CONTACT: John M. Anderson, 202-745-7611, for Citibank/ CO: Citibank ST: New York IN: FIN SU:


GK-LR -- NY072 -- 1771 09/21/92 14:50 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 21, 1992
Words:186
Previous Article:AMERICAN AIRLINES OPERATION STATUS
Next Article:IBM ANNOUNCES MAJOR CONTRIBUTION TO UNITED WAY OF SANTA CLARA COUNTY
Topics:


Related Articles
CITIBANK BRAZILIAN PAST-DUE INTEREST BOND AGREEMENT DATE SET
CITIBANK: PERU AND BANK COMMITTEE REACH AGREEMENT
CITIBANK: BRAZIL AND THE BANK ADVISORY COMMITTEE ANNOUNCEMENT
GOVERNMENT OF BRAZIL AND BANK ADVISORY COMMITTEE TO KICK OFF MEETINGS
GOVERNMENT OF BRAZIL AND BANK ADVISORY COMMITTEE BEGIN SERIES OF INFORMATIONAL MEETINGS WITH CREDITORS ON DEBT FINANCING PLANS
Credit Lyonnais expands presence in Brazil. (Special Advertising Feature).
HSBC Bank Brasil Agrees to Take Over Investment Funds From Bank of America.
Gafisa Elects New Board Member.
RBC establishes financial advisory office in Brazil.
Brazil's Development Bank to sell 10-year benchmark bond.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters