Korea's NACF relaunches $250-$400 million 10-year bonds at mid-swaps +100 bps, to price Thursday

By Paul A. Harris

St. Louis, May 17 - South Korea's National Agricultural Cooperative Federation (NACF) returned to the market on Tuesday with a $250 million to $400 million offering of 10-year lower tier II bonds, according to a syndicate source.

The bonds are talked at mid-swaps plus 100 basis points and are expected to price on Thursday.

Barclays Capital, BNP Paribas and JP Morgan are the bookrunners for the Regulation S offering.

NACF postponed the offering on March 16, citing market conditions.

The prospective issuer is umbrella organization for Korea's regional cooperatives and has headquarters in Seoul.

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