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United States Senate Resolution No. 33, Of 15 July 2013

Original Language Title: Resolução do Senado Federal nº 33, de 15 de julho de 2013

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I do know that the Federal Senate has approved, and I, Renan Calheiros, President, in the terms of art. 48, inciso XXVIII, of the Rules of Procedure, promulgated the following

R E S O L U UNK UNK No 33, DE 2013

Authorizes the Union to hire financial operation with the Republic of the Congo, amounting to US$ 352,676,103.62 (three hundred and fifty-two million, six hundred and seventy-six thousand, one hundred and three U.S. dollars and sixty-six and two cents), for the re-scaling of the Congolese official debt to Brazil.

The Federal Senate resolves:

Art. 1º It is the Federative Republic of Brazil, in the terms of art. 52, inciso V, of the Federal Constitution, and of the resolution of Federal Senate No 50 of 1993, authorized to enter into contract for restructuring of its claims together with the Republic of the Congo, in the amount equivalent to US$ 352,676,103.62 (three hundred and fifty and two million, six hundred and seventy-six thousand, one hundred and three North American dollars and sixty-two cents).

Single Paragraph. The external financial operation defined in the caput will give us in the terms of the outcome of the negotiations registered in the Act of Understanding of the bilateral meetings held between the Federative Republic of Brazil and the Republic of the Congo.

Art. 2º The Republic of Congo's debt restructuring operation will observe the following financial conditions:

I-value of total consolidated debt: US$ 352,676,103.62 (three hundred and fifty and two million, six hundred and seventy-six thousand, one hundred and three U.S. dollars and sixty-two cents), on October 29, 2010 ;

II-value of debt to be effectively paid by the Republic of the Congo: US$ 74,588,462.98 (seventy and four million, five hundred and eighty-eight thousand, four hundred and sixty-two U.S. dollars and ninety and eight cents), equivalent to 21% (twenty one per cent) of the consolidated total debt ;

III-terms of payment:

a) amortization of the resched-amount amount: 1 (one) initial payment, worth US$ 6,158,454.93 (six million, one hundred and fifty eight thousand, four hundred and fifty-four U.S. dollars and ninety and three cents), to be conducted upon transfer of the amounts deposited into account of deposits in custody, referring to payments made by the Republic of the Congo in the period from April 2, 2008 to September 30, 2011, the remaining balance of US$ 68,430,008.05 (sixty-eight million, four hundred and thirty thousand and eight U.S. dollars and five cents) will be paid in 5 (five) years, by up to 20 (twenty) quarterly installments, the first one paid in 2 (two) months after the signing of the debt renegotiation agreement ;

b) pardon: US$ 278,087,640.64 (two hundred and seventy-eight million, eighty-seven thousand, six hundred and forty U.S. dollars and sixty-four cents), corresponding to a 79% (seventy-nine percent) remission of the debt total consolidated ;

c) interest: 2.02% a.a. (two integers and two hundredths per cent a year) ;

d) interest on arrears: calculated at the rate of 1% a.a. (one per cent per year), plus the interest rate incident on the principal and interest payments that will come in arrears.

Single Paragraph. The dates of payment of the principal and financial charges may be changed depending on the date of full effectiveness of the contract.

Art. 3º The time limit for the exercise of this authorisation shall be 540 (five hundred and forty days), counted from the duration of this Resolution.

Art. 4º This Resolution shall enter into force on the date of its publication.

Federal Senate, on July 15, 2013.

Senator RENAN CALHEIROS

President of the Federal Senate