Bloomberg News

Nonghyup Said to Sign 40 Million Euro Facility With Two Banks

October 25, 2011

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.

--Editor: Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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