New Developments 2000 New Developments 2000
New Developments 2000

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December 21, 2000

Calculations for Payments on Mexico Value Recovery Rights, Series A, Announced.  

December 18, 2000

EMTA to Participate in Hague Working Group on Pledging Securities.  

December 15, 2000

Brady Bond Holiday Schedule for Christmas and New Year's Holidays.  

December 11, 2000

EMTA's Fourth Quarter Bulletin is Now Available in our Bulletin Section.    

10:30 A.M.
December 5, 2000

Venezuela Affirms Interest Payment Made on Par Bonds; Euroclear Confirms Receipt. Delay Due Solely to Technical Glitch. For Further Information, Contact Fiscal/Paying Agent at (212) 946-3013/3026.  

November 27, 2000

EMTA Announces Daniel Marx, Argentine Secretary of Finance, Will Also Speak at EMTA's Annual Meeting.  

November 20, 2000

EMTA Finalizes 2000 Annual Meeting, Sends Out Ballot for EMTA Directors.  

Emerging Markets Creditors Association (EMCA) in Formation. 

November 17, 2000

EMTA Primer on Mexico Value Recovery Rights.  

November 16, 2000

EMTA Proposes New Market Practice, Effective February 1, 2001, for Separate Trading of Mexico USD Discount and Par Bonds and Related Value Recovery Rights.  

November 15, 2000

Brady Bond Holiday Schedule for US Thanksgiving Holiday.  

November 13, 2000

EMTA Announces 3Q 2000 Debt Trading Volume Rises to US$712 Billion.  

November 8, 2000

FRBNY to Host December 12 Conference on New Corporate Governance Standards.  

October 31, 2000

Arminio Fraga, President of the Central Bank of Brazil, Will Speak at EMTA's Annual Meeting on December 7, 2000. Click for full schedule of speakers.  

October 23, 2000

Remarks Made by Timothy F. Geithner, U.S. Treasury Undersecretary for International Affairs, at a Special EMTA - SIA Meeting.  

Market Practice and New EMTA Template Terms for Brazilian Real NDFs.  

October 16, 2000

EMTA Announces Special Presentation by Timothy F. Geithner, Undersecretary for International Affairs at the United States Treasury on October 23, 2000.  

October 11, 2000

Poland Calls Discount and New Money Bonds.  

October 4, 2000

Chase Communication Regarding Peru.  

October 2, 2000

Recommended NDF Market Practices now available.  

Euroclear Distributes DACE Notice Regarding Peru.  

September 29, 2000

Peru Reportedly Settles Creditor Dispute.  

September 27, 2000

Brady Bond Holiday Schedule for US Columbus Day Holiday.  

Euroclear Distributes DACE Notice Regarding Peru. 

September 25, 2000 

Draft Market Practices for Peru Brady Bonds.
All Comments to Aviva Werner by Friday, September 29, 2000.

EMTA 1999 Annual Report Now Available.  

September 22, 2000 

Revised Annex A to the 1998 FX and Currency Option Definitions.  

September 18, 2000  

Calculations for Payments on Mexico Value Recovery Rights, Series A, Announced.  

September 11, 2000  

Log-In and Password for the Member's Only Section of EMTA's Website Have Been Changed. 
EMTA Members Should Contact Eric Brenner for the New Log-In Procedure.

September 7, 2000  

Russia Announces that Over 99% in Aggregate Amount of Prins and 98% in Aggregate Amount of IANs were Tendered in its Exchange Offer. Contact UBS Warburg by September 13, 2000 in Order to Participate in Extension.  

August 29, 2000  

Brady Bond Holiday Schedule for US Labor Day Holiday.  

August 28, 2000  

EMTA Announces Multilateral Net Delivery Facility for Negative Accrued Period Claims.

August 23, 2000 

Market Practice for Russia 2010 Bonds Now Available.  

Transfer Certificates for Transfers Between the Reg S and 144A Branches of Russia and Ecuador Bonds Now Available. 

August 22, 2000  

Salomon Smith Barney, as a Co-Deal Manager for the Ecuador Exchange, Confirms to EMTA Allocations of the 2012 Bonds: With Respect to Elections Made to Receive 2012 Bonds in Lieu of 2030 Bonds, Eurobond and IE Holders will Receive 100% of the 2012 Bonds Requested; PDI Holders will Receive 62.9% of the 2012 Bonds Requested; and Par and Discount Holders will not Receive any 2012 Bonds Requested.

WI Trades of Ecuador Bonds Should Settle on August 28, 2000 with 5 Days of Accrued Interest from August 23, 2000 to August 28, 2000.

WI Trades of Russia Bonds Should Settle on August 30, 2000 with 150 days of Accrued Interest from March 31, 2000 to August 30, 2000.

August 18, 2000 

Market Practices Now Available for (1) Negative Accrued Period Claims for Russia Prin Trades, (2) Participation Deliveries for Russia Prin Trades and (3) Failed Deliveries of Russia Bonds Prior to the Expiration Date of the Russia Restructuring Offer and Failed Deliveries of Ecuador Bonds Prior to the Expiration Date of the Ecuador Exchange Offer.  

Brady Bond Holiday Schedule for UK Summer Bank Holiday.  

August 17, 2000  

Transcripts of EMTA's Third Annual London Summer Forum Now Available.  

Transcript of Buy-Side Panel.
Transcript of Sell-Side Panel.  

August 14, 2000 

EMTA Announces 2Q 2000 Debt Trading Volume at US$681 Billion.  

Russia's Finance Ministry Has Announced that it will Continue to Accept Letters of Transmittal in Connection with its Offer to Exchange Outstanding Prin and IAN Debt for New 10- and 30-Year Eurobond Debt Until Thursday, August 17, 2000, at 5:00 P.M. (London Time) in Order to Allow Creditors Additional Processing Time. The Exchange Offer is Still Expected to be Completed, as Previously Scheduled, on Friday, August 25, 2000.

EMTA Has Confirmed that Holders of More than 85% of Ecuador's Outstanding Brady Bonds and Eurobonds Have Accepted Ecuador's Proposal to Swap Such Debt for New 12- and 30-Year Eurobonds. The Bond Exchange is Expected to Close on August 23, 2000.

August 11, 2000
 

Revised Draft Market Practices for Failed Trades of IANs and Ecuador Bonds, and Draft Market Practices for Claims in Respect of Russia Assignment or Participation Trades Settled During the 'Negative Accrued Period' and Delivery Obligations under Existing Russia Participations are being Distributed for Comment.
Please contact Aviva Werner with any comments ASAP.

August 9, 2000  

At the Request of EMTA and Certain Bondholders, the Republic of Ecuador Has Extended the Deadline for its Exchange Offer of New Eurobond Debt for Existing Brady and Eurobond Debt Until Friday, August 11, 2000 at 5:00 pm New York Time. The Results of the Offer are Still Expected to be Released on August 14, 2000 and the Closing is Still Foreseen for August 23, 2000. EMTA Had Requested the Extension in Order to Allow for Additional Processing Time.

WI Trades of Russia 2010 Bonds -- Important Clarification on the Delivery of Settlement Instructions into the Clearing Systems.

August 8, 2000 

Draft EMTA Market Practice for Failed Trades of Russian IANs and Ecuador Bonds Distributed for Comment.
Please contact Aviva Werner with any comments ASAP since the Market Practice is expected to be finalized no later than August 11, 2000.

August 7, 2000  

WI Confirmation Forms and Bilateral Netting Agreement for Ecuador Global Bonds Now Available.  

August 3, 2000 

EMTA Recommends that W/I Trading in Ecuador 2030 and 2012 Bonds Begins Friday, August 4.  

July 28, 2000  

Mexico Value Recovery Rights -- EMTA Encourages Bilateral Reconciliation and Netting. Multilateral VRR Netting Facility Planned for the Fall.  

July 27, 2000  

Bondholders Interested in Obtaining a Copy of the Ecuador Term Sheet are Advised to Contact Their Salesperson at Salomon Smith Barney or J.P. Morgan.

July 26, 2000  

EMTA Recommends Market Practices for W/I Trading in 2010 Russian Eurobonds Pre- and Post-July 13, 2000.  

EMTA Announces Addition of "Key Industry Perspectives" Page to the EMTA Website.
The purpose of this page is to draw attention to the Emerging Markets debt industry, promote Emerging Markets investing in a general manner, and to offer industry viewpoints on important issues of common concern.
 

July 25, 2000

Mexico VRR Failed Transfers -- To Aid Market Participants in Their Reconciliation Efforts, EMTA is Publishing a Database of Contact Information to Enable Dealers, Custodians and Investors to More Effectively Communicate Among Each Other.  

July 20, 2000

Russia Requests Prin Holders to Stop Trading on Friday, July 28, 2000, and to Settle any Trades of Prins no Later than Thursday, August 3, 2000.  

July 14, 2000

EMTA's Third Annual London Summer Forum Draws 180 Attendees to Hear Cautious Optimism from Sell-Side and Buy-Side Panelists.  

July 13, 2000

Clarification Memorandum on Settlements of Russia WI Trades of 2010 and 2030 Eurobonds After the Closing Date of Russia's Exchange Offer.  

June 30, 2000

Payment on Mexico VRR's will be Made Today to VRR Account Holders as of June 15. Because a Large Backlog of Failed VRR Trades Exists, We Anticipate an Increased Volume of Claims Relating to such Payment. The Discussion Draft of the New Market Practice for June 30 VRR Payment Claims is Now Available for Comment (please e-mail Aviva Werner with any comments).

June 29, 2000

Fiscal Agent Announces Ecuador Discount Bond Record and Payment Dates, as well as the Interest Rate and Amount of Interest Payable, in respect of the August 28, 1999 Interest Payment Date.  

June 27, 2000

EMTA Reaffirms Holiday Schedule Previously Distributed with One Change -- A Recommended 12:00 Noon (London Time) Early Close on Tuesday, July 4, for the Emerging Markets Debt Marketplace in the U.K.  

EMTA Sponsors Working Group Meeting on Mexico Value Recovery Rights.  

June 26, 2000

The Fiscal Agent for Ecuador Discount Bonds Confirmed that 25% of Discount Bondholders have Voted to Release the Collateral for the August 28, 1999 Interest Payment. The Record and Payment Dates have not yet been Determined. EMTA has Contacted the Fiscal Agent and Ecuador's Counsel for Further Information.  

June 23, 2000

EMTA Distributes New Version of Standard Terms for Assignments of Loan Assets (and Related Market Practice Guide), Effective for all Trades Entered into on and after June 26, 2000.

BNP Luxembourg, the Fiscal Agent for Ivory Coast, has Announced that the New Record Date for the Remaining Portion of Interest Due on the PDI, Discount and Front-Loaded Interest Reduction Bonds will be July 7, 2000, with a Payment Date of July 17, 2000.

EMTA Announces Holiday Schedule for Brady Bond Trades.  

June 22, 2000

Igor Kostikov, Chairman of the Russian Federal Commission for the Securities Markets, Speaks at Special EMTA Meeting.  

June 15, 2000

Calculations for Payments on Mexico Value Recovery Rights, Series A, Announced. Please click here for Citibank Notice and click here for Euroclear DACE Notice.  

EMTA Sponsors Working Group Meeting on Mexico Value Recovery Rights.  

June 14, 2000

EMTA Announces Special Presentation by Igor Kostikov, Chairman of the Federal Commission for the Securities Market of Russia, to be Held on June 22, 2000.  

June 13, 2000

EMPower Invites Emerging Markets Community to a Summer Event on June 28, 2000.  

June 9, 2000

Loan/Bond Documentation and FX Derivatives Documentation Now Available to EMTA Members Online.  

June 8, 2000

EMTA Sponsors Working Group Meeting on Mexico Value Recovery Rights.  

US Treasury Responds to Meltzer Commission Report.
Click here to go to Meltzer Commission Report.

June 1, 2000

Market Practice for Mexico Discount Bonds and Value Recovery Rights to Remain Unchanged for Now/EMTA Encourages Market Participants to Redouble Reconciliation Efforts.  

Bank of America Announces New Interest Period (June 2, 2000 - December 4, 2000) for VEB Restructured Loans, with 7.9375% Interest Rate for USD Loans.

May 26, 2000

EMTA Announces Current & Historical CME/EMTA Ruble Rates Now Available on the EMTA Website.  

BNP Luxembourg, the Fiscal Agent for Ivory Coast, has Announced that:
(1) the Record Date for Principal Payments on PDI Bonds is May 16, 2000, with a Payment Date of May 23, 2000, and 
(2) the Record Date for a Portion of Interest Payments on PDI, Discount & Front-Loaded Interest Reduction Bonds is May 24, 2000, with a Payment Date of June 2, 2000.

May 24, 2000
 

 

EMTA Releases 2nd Quarter 2000 Bulletin.  

EMTA Announces Third Annual London Summer Forum to be Held on Thursday, July 13, 2000.

Transcript of Buy-Side Panel.
Transcript of Sell-Side Panel.
 

May 19, 2000

Ecuador Creditors Advisory Group Posts Procedure and Notices to Draw Down Rolling Interest Guaranty on Ecuador Discount and Par Bonds:
ECAG Cover Memorandum.
Discount Bond Notice.
Par Bond Notice.  

May 16, 2000

EMTA Receives Copies of Economic Information on Ecuador and the IMF's Statement for Presentation at May 16, 2000 Meeting in New York City:
Cover Letter.
Statement by the IMF Representative at the Meeting with Private Creditors.
Ecuador:  Medium-term Macroeconomic Framework.
Ecuador:  Summary Balance of Payments 1999-2005.
Ecuador:  Service on Public Sector External Debt.
Ecuador:  External Financing Requirements, 1998-2000
Ecuador:  External Debt 1996-1999. 

May 15, 2000

EMTA Considering Proposed New Market Practices for Mexico Discount Bonds and Related Value Recovery Rights.  

May 11, 2000

First Drafts of EMTA Template Terms for Asia-Specific NDF Transactions.
Final Template Terms are available by Clicking Here.  

May 9, 2000

Ecuador Presentation on May 16, 2000/Time Change.  

May 8, 2000

EMTA Announces First Quarter 2000 Volume Reaches US$749 Billion. 

May 5, 2000

Mexican Value Recovery Rights - Background and Proposals. 

Ecuador Makes a Presentation to Bondholders on May 16, 2000. 

April 28, 2000

EMTA Recommends Market Practices for the 'Flat' Trading of Ivory Coast Bonds.  

April 17, 2000

EMTA Recommends Market Practices for Options on Tendered Russian Prins Relating to the Treatment of Interest Payments.  

April 12, 2000

EMTA Recommends Market Practices for Brazil C-Bonds with a Final Capitalization Factor of 1.23141.  

March 14, 2000

EMTA, ISDA and FX Committee Announce Addition of New Brazilian Real Rate Source Definition.  

February 16, 2000

Cross-Product Master Agreement Unveiled.  

February 8, 2000

EMTA TEMPLATE TERMS for BRL Non-Deliverable FX Transactions.  

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