Брейди и евро облигации
Brady Bonds and Eurobonds

Summary/Abstract: The article discusses the major instruments of restructuring the external debt - the conversion of Brady bonds into Eurobonds. Brady bonds can be used in the privatization process both by the external debt creditors and by all interested local and foreign persons. The article makes an analysis of the legal conditions regulating this type of bond transactions. Eurobonds have been paid more attention to because a process of conversion of Brady bonds into Eurobond emissions is under way. This is characteristic of most states in transition. Eurobonds, as a modification of Brady bonds, have been discussed as a type of securities. Transactions, whose conclusion is a prerequisite for the emission of Eurobonds, have also been under examination – for instance the contract of subscription

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