What does Brady bonds mean?

Brady bonds meaning in Law Dictionary

U.S. dollar-denominated relationship released by an emerging market, specifically those who work in Latin America, and collateralized by U.S. Treasury zero-coupon bonds. Brady bonds arose from an endeavor in 1980s to cut back the debt held by less-developed nations that were regularly defaulting on loans.

Brady bonds meaning in Business Dictionary

Long-term bonds representing debt owed by establishing countries to intercontinental finance companies. These dollar-denominated bonds tend to be known as after Nicholas Brady (created 1939), United States Treasury secretary within the George Bush administration (1989-93), who presented their particular use in financial obligation restructuring.