By Kenneth Lim
Boston, May 20 - Federal Farm Credit Banks priced $1 billion of new 1.375% three-year Designated Bonds on Wednesday at a spread of 31 basis points over Treasuries.
The notes sold at 99.688 to yield 1.479%. Price talk was at a spread of 30 bps over Treasuries.
Banc of America Securities LLC, J.P. Morgan Securities Inc. and UBS Securities LLC were the lead managers.
The notes are non-callable.
| Issuer: | Federal Farm Credit Banks
|
| Issue: | Designated Bonds
|
| Amount: | $1 billion
|
| Maturity: | June 25, 2013
|
| Coupon: | 1.375%
|
| Price: | 99.688
|
| Yield: | 1.479%
|
| Spread: | 31 bps over Treasuries
|
| Price talk: | 30 bps over Treasuries
|
| Call: | Non-callable
|
| Lead managers: | Banc of America Securities LLC, J.P. Morgan Securities Inc. and UBS Securities LLC
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
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