By Angela McDaniels
Tacoma, Wash., April 14 - Federal Farm Credit Banks Funding Corp. priced $1.5 billion of 2.625% Designated Bonds due April 17, 2014 at 92 basis points over Treasuries on Tuesday, according to an agency news release.
The bonds priced at 99.777, and the yield is 2.673%.
The bonds will be issued through the Federal Farm Credit Banks Consolidated Systemwide Bond Program.
Barclays Capital Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. are the lead managers for the issue, with First Tennessee Bank NA as co-manager.
Settlement will occur Friday.
| Issuer: | Federal Farm Credit Banks Funding Corp.
|
| Issue: | Designated Bonds
|
| Amount: | $1.5 billion
|
| Maturity: | April 17, 2014
|
| Coupon: | 2.625%
|
| Price: | 99.777
|
| Yield: | 2.673%
|
| Spread: | 92 bps
|
| Underwriters: | Barclays Capital Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. (leads) and First Tennessee Bank NA
|
| Pricing date: | April 14
|
| Settlement date: | April 17
|
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