NRUCFC Enters Material Definitive Agreement
Ticker: NRUC · Form: 8-K · Filed: Dec 19, 2024 · CIK: 70502
Sentiment: neutral
Topics: debt-issuance, material-agreement
TL;DR
NRUCFC just signed a big deal for GUP Series V bonds due Dec 2024.
AI Summary
On December 18, 2024, National Rural Utilities Cooperative Finance Corp. entered into a material definitive agreement related to its GUP Series V December 2024 issuance. This filing includes financial statements and exhibits pertaining to this agreement.
Why It Matters
This filing indicates a significant financial transaction or agreement by NRUCFC, which could impact its funding and operations.
Risk Assessment
Risk Level: low — The filing reports on a routine material definitive agreement and financial exhibits, which is standard corporate disclosure.
Key Numbers
- 1-7102 — SEC File Number (Identifies the specific SEC filing for the company.)
- 52-0891669 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ (company) — Registrant
- GUP SERIES V DECEMBER 2024 (dollar_amount) — Issuance Series
- December 18, 2024 (date) — Date of Report
FAQ
What is the nature of the material definitive agreement entered into by NRUCFC on December 18, 2024?
The filing indicates the agreement is related to the GUP Series V December 2024 issuance and includes financial statements and exhibits.
What is the exact name of the registrant?
The exact name of the registrant is NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION.
In which jurisdiction was the registrant incorporated?
The registrant was incorporated in the District of Columbia.
What is the principal executive office address of NRUCFC?
The principal executive office address is 20701 Cooperative Way, Dulles, VA 20166-6691.
What is the fiscal year end for National Rural Utilities Cooperative Finance Corp?
The fiscal year end for National Rural Utilities Cooperative Finance Corp is 0531.
Filing Stats: 643 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-12-19 11:23:53
Key Financial Figures
- $450 million — Finance Corporation ("CFC") closed on a $450 million Series V committed loan facility from t
- $1,650 million — mmitted loan facilities from the FFB to $1,650 million. The proceeds of the guaranteed loans a
Filing Documents
- nru-20241218.htm (8-K) — 30KB
- 0000070502-24-000073.txt ( ) — 194KB
- nru-20241218.xsd (EX-101.SCH) — 3KB
- nru-20241218_def.xml (EX-101.DEF) — 8KB
- nru-20241218_lab.xml (EX-101.LAB) — 29KB
- nru-20241218_pre.xml (EX-101.PRE) — 19KB
- nru-20241218_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On December 18, 2024, National Rural Utilities Cooperative Finance Corporation ("CFC") closed on a $450 million Series V committed loan facility from the U.S. Treasury Department's Federal Financing Bank ("FFB") guaranteed by the United States of America, acting through the Rural Utilities Service. Under this Series V facility, CFC is able to borrow any time before July 15, 2029, with each advance having a final maturity not longer than 30 years from the advance date. Interest rates, including all fees (30 basis points of which are used to support the United States Department of Agriculture's Rural Economic Development Loan and Grant Program), will be at a spread over comparable maturity Treasury Bonds as follows: 10 years or less 42.5 basis points Greater than 10 years 55 basis points This new commitment increases total funding available to CFC under committed loan facilities from the FFB to $1,650 million. The proceeds of the guaranteed loans are to be used by CFC to make loans for any utility infrastructure purpose eligible under the Rural Electrification Act of 1936, as amended, or to refinance bonds or notes issued for such purposes. The foregoing description is a summary and is qualified in its entirely by reference to the agreements themselves, which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2024.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) The following exhibit is filed as part of this report: Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION By: /s/ YU LING WANG Yu Ling Wang Senior Vice President and Chief Financial Officer Dated: December 19, 2024