By Devika Patel
Knoxville, Tenn., April 4 – The Federal Home Loan Bank System announced that it priced $1.5 billion of 18-month floating-rate bonds at the Secured Overnight Financing Rate plus 10.5 basis points.
Interest will be payable quarterly.
Goldman Sachs & Co., Nomura Securities International, Inc. and Wells Fargo Securities LLC were the bookrunners.
FHLBank System is a Washington, D.C.-based government-sponsored enterprise that provides member financial institutions funding support for mortgage lending and community investment.
| Issuer: | Federal Home Loan Bank System
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| Description: | Floating-rate bonds
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| Amount: | $1.5 billion
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| Maturity: | Oct. 1, 2020
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| Bookrunners: | Goldman Sachs & Co., Nomura Securities International, Inc. and Wells Fargo Securities LLC
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| Co-managers: | Loop Capital Markets LLC and MFR Securities, Inc.
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| Coupon: | SOFR plus 10.5 bps
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| Trade date: | April 3
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| Settlement date: | April 5
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