布雷迪债券

比如，上世纪80年代晚期和90年代早期，由于拉丁美洲国家屡次贷款违约，为了减轻他们的债务负担，布雷迪债券（Bradybonds）应运而生。

For instance , the Brady bonds in the late 1980s and early 1990s arose from an effort to reduce debt held by mostly Latin American countries that were frequently defaulting on loans .

作为新兴金融衍生工具，结构性衍生合约是在布雷迪债券基础上发展起来的。

As an innovative financial derivative , the structured derivative contract developed on the basis of the Brady Bonds .

布雷迪债券：把发展中国家现有的债务转为新的债务时产生的一种债券。

Brady bond : bond created when existing developing country debt is concerted into new debt .

当各银行积累了足够的储备，债款就被重组为所谓的“布雷迪债券“，其余的损失均由银行自负。

When the banks built up sufficient reserves the loans were restructured into so-called Brady bonds and the banks wrote off their remaining losses .

这种方案在上世纪80年代治理拉美债务危机上收效良好，最终以布雷迪债券替换了已有债务。

This type of plan worked well for Latin American debt in the 1980s , culminating with the substitution of Brady bonds for existing debts .