By Angela McDaniels
Tacoma, Wash., Aug. 18 - Federal Farm Credit Banks Funding Corp. priced $1.1 billion of 3% Designated Bonds due Sept. 22, 2014 to yield 60 basis points over Treasuries on Tuesday, according to an agency news release.
The bonds priced at 99.847, and the yield is 3.033%.
The bonds are being 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, with Goldman, Sachs & Co. as co-manager.
The bonds will settle Friday. Plans for the issue were announced on Monday.
| Issuer: | Federal Farm Credit Banks Funding Corp.
|
| Issue: | Designated Bonds
|
| Amount: | $1.1 billion
|
| Maturity: | Sept. 22, 2014
|
| Coupon: | 3%
|
| Price: | 99.847
|
| Yield: | 3.033%
|
| Spread: | 60 bps
|
| Managers: | Barclays Capital Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. (leads) and Goldman, Sachs & Co. (co-manager)
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 21
|
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