NACF jumps to bond market after US boost

03 Aug 2011

National Agricultural Cooperative Federation (NACF), which has been waiting to issue an international bond for months, sprung into action this week, selling a $500m deal after US debt ceiling negotiations finally came to a resolution at the weekend.

Funding officials held back from marketing a deal due to the poor state of global credit markets — until the announcement on Sunday night that US debt ceiling negotiations had almost reached a conclusion gave a booster shot to the bond market and put investors and issuers alike ...

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