National Rural Utilities Co-op extends two revolvers to 2018 and 2020

By Wendy Van Sickle

Columbus, Ohio, Nov. 25 – National Rural Utilities Cooperative Finance Corp. extended its $1,665,000,000 three-year credit agreement to Nov. 19, 2018 and its $1,645,000,000 five-year credit agreement to Nov. 19, 2020, according to an 8-K filed with the Securities and Exchange Commission.

The three-year revolving agreement had been set to mature on Oct. 28, 2017 and the five-year revolving agreement on Oct. 28, 2019. Commitments of $25 million under the three-year agreement and $45 million under the five-year agreement will expire at the original maturity dates.

In connection with the Nov. 19 amendment and restatement of the facilities, commitments from the existing banks were increased by $45 million. At closing of the amendment, the total amount available under the two facilities was $3,309,000,000.

The market lender for electric cooperatives is based in Herndon, Va.

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