NRUC issues $300M 7.125% subordinated notes, redeems $100M of 4.75% notes

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/

Issued $300M aggregate principal of 7.125% Fixed-to-Fixed Reset Rate Subordinated Notes due 2053.
Underwriters include J.P. Morgan, Mizuho, RBC Capital Markets, Truist Securities.
Offering closed on May 26, 2023.
Redeeming $100M of 4.75% Fixed-to-Floating Rate Subordinated Notes due 2043 at par plus accrued interest on June 26, 2023.
Redemption funded with proceeds from the new issuance.

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