National Rural Utilities Cooperative increases, extends revolvers

By Angela McDaniels

Tacoma, Wash., April 3 - National Rural Utilities Cooperative Finance Corp. amended its three-, four- and five-year revolving credit facilities on March 28, according to an 8-K filing with the Securities and Exchange Commission.

Of the $1,125,000,000 three-year revolver, $219 million will expire on the original maturity date of March 21, 2014, and the remainder was extended to Oct. 21, 2015. The facility fee was lowered to 10 basis points for the extended portion and remains 15 bps for the portion that was not extended.

The company extended the four-year revolver to Oct. 21, 2016 and increased it to $1,008,000,000 from $885 million.

The company extended the five-year revolver to Oct. 21, 2017 and increased it to $958 million from $835 million.

Subject to some terms and conditions, the company has the right to increase the three-year revolver to a maximum of $1.5 billion and each of the four- and five-year revolvers to a maximum of $1.3 billion.

National Rural is a market lender for electric cooperatives based in Dulles, Va.

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