Do I know that the Senate
Federal approved, and I, Renan Calheiros, President, pursuant to art. 48,
paragraph XXVIII, the internal regulations, enact the following resolution No. 1 of 2006 Authorizes the Federative Republic of Brazil
hiring external credit operation for a total value of up to $
658.300, 000.00 ($ 658,300,000
Americans) with the International Bank for reconstruction and
The Federal Senate
resolves: Art. first is the Republic
Brazil's Federative authorized to hire external credit operation
total value of up to $658,300, 000.00 (658 million and
300,000 u.s. dollars), with the International Bank for
Reconstruction and development-Ibrd.
Sole paragraph. The
features of credit operation constitute the first loan
Reforms in the programmatic Social Security Tax-III.
Art. 2 the conditions
basic financial credit operation are as follows: I-borrower: Republic
Federal Republic of Brazil;
For reconstruction and development-Ibrd;
III-total value: up
$658,300, 000.00 (658,300,000
loan: fixed margin loan (fixed spread loan??), with
Automatic interest rate, as realisation of the disbursements, and rate of
possibility of: a) currency conversion;
b) conversion rate of
floating to fixed interest or vice versa;
ceilings and bands to interest rate fluctuation;
disbursement: up to 31 December 2006;
I saw grace period: 5
(twenty-four) consecutive semi-annual installments, the first in 15
July 2010 and the last in January 2022 15;
semi-annually on January 15 and July 15 of each year, calculated on the
periodic balance due on the loan, a compound annual rate of? LIBOR-6
months? and? spread? up to 0.75% p.a. (75 cents for 100 to
commitment: required semi-annually, at the same payment dates, interest, and
calculated based on the rate of up to 0.85% p.a. (85 cents for
100 year) about the non-disbursed loan balance, entering into force
60 (60) days after signature of the contract, the rate of up to 0.85%
(85 cents per 100) will focus to the 4th (fourth) year of your
entry into force; After this period, the maximum rate will be 0.75% p.a. (70
and five hundredths by 100 per year);
up to 1% (1%) about the value of the loan, to be debited on the date on
the contract come into effectiveness.
Sole paragraph. The
main payment dates and financial burdens, provided for in the draft
contract can be changed on the basis of the date of your signature.
Art. 3 the authorisation
granted by this resolution must be exercised within 540 (500 and
40) days, counted of the date of your publication.
Art. 4 this resolution
shall enter into force on the date of your publication.
Senate, on 25 January 2006.
Calheiros Federal Senate President