NACF releases price guidance for $500 million bond

The pricing is in line with the outstanding curve, leading bankers to expect a positive response.

KoreaÆs National Agricultural Cooperative Federation NACF has released guidance at 42bp over mid-swaps for its upcoming benchmark $500 million issue. The Reg-S A-Baa1 10-year non-call-five bond is due to price on Thursday via ABN AMRO, BNP Paribas, Citi and HSBC.

Guidance is in line with the federationÆs outstanding curve. Its 2014, 2015 and 2016 sub-debt offerings are trading at 35bp, 38bp and 40bp over mid-swaps respectively, indicating a one-year maturity extension of 2-3 basis points. More, Hana...

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