CoBank plans to redeem floating-rate series 2007A subordinated notes

By Angela McDaniels

Tacoma, Wash., April 17 – CoBank, ACB plans to redeem its $500 million of floating-rate series 2007A subordinated notes due 2022 on June 15, according to a company news release.

On April 13, CoBank's regulator, the Farm Credit Administration, announced that it had approved the redemption on March 16.

CoBank plans to notify the noteholders of the redemption by May 15.

The redemption price will be par plus accrued interest up to but excluding the redemption date.

CoBank is a Greenwood Village, Colo.-based national cooperative bank serving rural areas.

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