National Rural drops third tranche of 2027 notes

Chicago, Oct. 19 – National Rural Utilities Cooperative Finance Corp. dropped a third tranche from a deal that priced on Monday, a source confirmed.

As previously reported, the group priced $350 million of floating-rate notes due 2024 with a coupon based on SOFR plus 33 basis points and $400 million of 1% three-year notes at Treasuries plus 30 bps.

CFC, as it refers to itself, also had the deal in the market with a tranche of fixed-rate notes due Jan. 15, 2027 talked in the 60 bps area over Treasuries.

RBC Capital Markets LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and MUFG are the bookrunners.

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

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