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Korea's National Agricultural calls its $400 million of 5 1/8% notes
By Susanna Moon
Chicago, April 26 - National Agricultural Cooperative Federation said it plans to redeem its $400 million 5 1/8% subordinated lower tier 2 bonds due May 26, 2015.
The notes are callable at par on May 26.
NACF sold the 10-year bonds at 99.457 with a 5 1/8% coupon to yield 5¼% on May 26, 2005. The notes were issued under NACF's global medium-term note program.
The bonds were non-callable for five years. There was to be a step-up of 100 basis points if the notes were not called on the first call date.
The issuer is an umbrella organization for Korea's regional cooperatives and is based in Seoul, Korea.
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