National Rural Utilities Cooperative Finance Corp. closed an offering of $700 million of 3.40% collateral trust bonds due 2028 pursuant to an underwriting agreement entered Jan. 31.
The bonds are payable semiannually on Feb. 7 and Aug. 7, commencing Aug. 7. The issuer may redeem the bonds at any time prior to Nov. 7, 2027, in whole or in part, at a "make-whole" redemption price.
J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC, and SunTrust Robinson Humphrey Inc. are joint book-running managers. MUFG Securities Americas Inc., RBC Capital Markets LLC, Regions Securities LLC, Scotia Capital (USA) Inc., and U.S. Bancorp Investments Inc. are the co-managers.
