By Kenneth Lim
Boston, Oct. 27 - Federal Farm Credit Banks Funding Corp. priced $1.5 billion of 1.875% three-year Designated Notes on Tuesday at 99.971 to yield 1.885%.
The yield represented a spread of 34 basis points over Treasuries, in line with price talk.
Banc of America Securities LLC, HSBC Securities (USA) Inc. and Morgan Stanley & Co. were the joint lead managers.
The notes are non-callable.
| Issuer: | Federal Farm Credit Banks Funding Corp.
|
| Issue: | Designated Notes
|
| Amount: | $1.5 billion
|
| Maturity: | Dec. 7, 2012
|
| Coupon: | 1.875%
|
| Price: | 99.971
|
| Yield: | 1.885%
|
| Spread: | 34 bps over Treasuries
|
| Price talk: | 34 bps over Treasuries
|
| Call protection: | Non-callable
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 29
|
| Lead managers: | Banc of America Securities LLC, HSBC Securities (USA) Inc. and Morgan Stanley & Co.
|
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