National Rural Signs $1 Billion Secured Note Facility With Farmer Mac
2009年5月28日 - 6:29AM
Marketwired
National Rural Utilities Cooperative Finance Corporation (NYSE:
NRU) (NYSE: NRN) (NYSE: NRC) (National Rural) has signed a note
purchase agreement with the Federal Agricultural Mortgage
Corporation (Farmer Mac) and Farmer Mac Mortgage Securities
Corporation, pursuant to which National Rural will sell up to $1
billion of notes.
This is one of several transactions that National Rural has
conducted with Farmer Mac since 2005. This agreement, like the
other note purchase agreements between the parties, will be secured
by eligible loans within specific per borrower limits.
"Our partnership with Farmer Mac helps our members, America's
electric cooperatives, to fulfill their mission of service to their
member-consumers," said National Rural CEO Sheldon C. Petersen. "In
the current capital markets, Farmer Mac is demonstrating its value
to rural America."
The agreement is structured as a seven-year revolving credit
facility that allows National Rural to borrow, repay and re-borrow
funds at any time or from time to time as market conditions permit,
provided that the principal amount at any time outstanding under
this facility is not more than $1 billion. National Rural may
select a variable rate or fixed rate at the time of each advance.
The maturity date of any advance under this agreement must not be
later than Dec. 31, 2016, or such other date as agreed to by the
parties.
Farmer Mac is a stockholder-owned instrumentality of the United
States chartered by Congress to establish a secondary market for
agricultural real estate and rural housing mortgage loans and rural
utilities loans and to facilitate capital market funding for
USDA-guaranteed farm program and rural development loans.
Additional information about Farmer Mac is available at
www.farmermac.com.
National Rural is a non-stock, member-owned finance cooperative
that serves the nation's rural utility systems, the majority of
which are electric cooperatives and their subsidiaries. With more
than $20 billion in assets, National Rural provides its
member-owners with an assured source of low-cost capital and
state-of-the-art financial products and services. By providing
financing that supports reliable, affordable electricity, National
Rural helps enhance the nation's electric infrastructure and
improve the quality of life in rural America. Visit www.nrucfc.coop
for more information about National Rural.
Contacts: Matt Rhoades Corporate Communications (703) 709-2112
Email Contact Andrew Don Investor Relations (703) 709-6869 Email
Contact
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