Brady bonds (also referred to in German as Brady Bonds; named after Nicolas F. Brady, U.S. Secretary of the Treasury in 1998)

Long-term securities issued by emerging countries under a debt reduction plan. In most cases, these securities are backed by sovereign guarantees, although this does not indicate whether the bond will be serviced in accordance with the terms of the contract. – See international financial institution, London Club, Paris Club, sovereign bond, sovereign debt, denied.

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