NACF clears market: at a price

Quasi-sovereign credit accepts market reality.

The National Agricultural Co-operative Federation NACF returned to the international subordinated debt market for the first times since June late on Thursday with a $400 million issue via Barclays, BNP Paribas and JPMorgan.

Like Korea Highway a few days before it, NACF had to price off a secondary curve that had widened over the course of the marketing period. Unlike Korea Highway, it also needed to pay a comfortable new issue premium in order to...

To continue reading, please login or register for free

Click for more on: nacf | clears | market | price

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...