Hunton & Williams Advises on National Rural Utilities Cooperative Finance Corporation - $900 Million offering of Collateral Trust Bonds

Hunton & Williams LLP advised J.P. Morgan Securities LLC, RBC Capital Markets, LLC Mitsubishi UFJ Securities (USA), Inc., Scotia Capital (USA) Inc. and SunTrust Robinson Humphrey, Inc., as joint-booking running managers on an SEC registered offering by National Rural Utilities Cooperative Finance Corporation (“CFC”) of $400 million aggregate principal amount of collateral trust bonds due 2020 and $500 million aggregate principal amount of collateral trust bonds due 2025.

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 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 & Williams LLP team included Michael Fitzpatrick, Adam O’Brian and John Papaspanos. Cary Tolley provided tax advice.