New Issue: Korea's NACF sells $400 million of 10-year bonds at Treasuries plus 124.6 bps

By Reshmi Basu

New York, June 9 - National Agricultural Cooperative Federation sold $400 million of 10-year bonds at a spread of Treasuries plus 124.6 basis points, according to market source.

The bonds are non-callable for five years.

BNP Paribas, Calyon and Merrill Lynch managed the sale.

NACF is an umbrella organization for Korea's regional cooperatives, headquartered in Seoul.

Issuer: National Agricultural Cooperative Federation

Amount: $400 million

Issue: Lower tier II subordinated notes

Maturity: 2016

Yield: Treasuries plus 124.6 basis points

Pricing date: June 9

Lead managers: BNP Paribas, Calyon, Merrill Lynch

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