Published on 1/9/2007 in the Prospect News Emerging Markets Daily.
New Issue: Korea's NACF sells $250 million notes due 2012
By Reshmi Basu
New York, Jan. 9 - National Agricultural Cooperative Federation (NACF) placed a $250 million offering of five-year floating-rate notes (A3/A-) at 99.824 with a coupon of three-month Libor plus 20 basis points, according to a market source.
JP Morgan and Daiwa Securities led the Regulation S deal, which comes off the company's $2.5 billion medium-term note program.
NACF is a Seoul-based umbrella organization for Korea's regional cooperatives.
Issuer: | National Agricultural Cooperative Federation (NACF)
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Amount: | $250 million
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Issue: | Floating-rate notes
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Maturity: | Jan. 17, 2012
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Coupon: | Three-month Libor plus 20 basis points
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Issue price: | 99.824
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Pricing date: | Jan. 9
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Settlement date: | Jan. 17
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Lead managers: | JP Morgan, Daiwa Securities
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Ratings: | | Moody's: A3
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| Standard & Poor's: A-
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Distribution: | Regulation S
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