Hunton Andrews Kurth Advises on $1.1 Billion of SEC Registered Securities for National Rural Utilities Cooperative Finance Corporation

Hunton Andrews Kurth LLP advised the underwriters in an offering by National Rural Utilities Cooperative Finance Corporation (“CFC”) of $300 million aggregate principal amount of 5.80% Collateral Trust Bonds, due 2033. This offering constituted the reopening of CFC’s 5.80% Collateral Trust Bonds, due 2033 originally issued in October 2022. The firm also advised the agents in offerings by CFC of (i) $600 million aggregate principal amount of its 4.45% Medium Term Notes due 2026 and (ii) $200 million aggregate principal amount of its 4.80% Medium Term Notes due 2028. This offering of $200 million aggregate principal amount of its 4.80% Medium Term Notes due 2028 constituted the reopening of CFC’s 4.80% Medium Term Notes due 2028 originally issued in December 2022.

CFC is a member-owned cooperative association. Its principal purpose is to provide members with financing to supplement the loan programs of the Rural Utilities Service of the United States Department of Agriculture. CFC makes loans to its rural electric members so they can acquire, construct and operate electric distribution, generation, transmission systems and related facilities. CFC also provides its members with credit enhancements in the form of letters of credit and guarantees of debt obligations. As a member-owned cooperative, CFC has no publicly held equity securities outstanding. CFC funds its activities primarily through a combination of publicly and privately held debt securities and member investments.

The Hunton Andrews Kurth team included Michael F. Fitzpatrick, Adam R. O’Brian, Patrick C. Jamieson, Reuben H. Pearlman and Monika M. Dziewa. Robert McNamara and Tim Strother provided tax advice.