Oct. 25 (Bloomberg) -- Korea’s National Agricultural Cooperative Federation signed a 40 million euro ($56 million) club loan with Australia & New Zealand Banking Group Ltd. and Commerzbank AG, according to a person familiar with the matter.
The loan, which matures in one year, pays a so-called all- in rate of 120 basis points over the euro interbank offered rate, another person with direct knowledge of the transaction said today.
NACF, commonly known as Nonghyup, provides marketing and supply, as well as banking and insurance services for agricultural cooperatives and farmers principally in Korea.
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