CoBankACB announced April 8 its issuance of $375 million in preferredstock.
The series I noncumulative perpetual preferred stock has afixed dividend rate of 6.25% until Oct. 1, 2026, after which the dividends willaccrue at a floating rate.
J.P. Morgan and Morgan Stanley served as joint bookrunnerson the transaction. HSBC served as co-manager.
With the issuance of the series I preferred stock, CoBankhas outstanding five series of noncumulative perpetual preferred stock totaling$1.50 billion.