New Issue: Korea's NACF sells $250 million notes due 2012

By Reshmi Basu

New York, Jan. 9 - National Agricultural Cooperative Federation (NACF) placed a $250 million offering of five-year floating-rate notes (A3/A-) at 99.824 with a coupon of three-month Libor plus 20 basis points, according to a market source.

JP Morgan and Daiwa Securities led the Regulation S deal, which comes off the company's $2.5 billion medium-term note program.

NACF is a Seoul-based umbrella organization for Korea's regional cooperatives.

Issuer:	National Agricultural Cooperative Federation (NACF)
Amount:	$250 million
Issue:	Floating-rate notes
Maturity:	Jan. 17, 2012
Coupon:	Three-month Libor plus 20 basis points
Issue price:	99.824
Pricing date:	Jan. 9
Settlement date:	Jan. 17
Lead managers:	JP Morgan, Daiwa Securities
Ratings:		Moody's: A3
	Standard & Poor's: A-
Distribution:	Regulation S

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