Bloomberg News

South Korea’s NongHyup Signs 8 Billion Yen Loan With Four Banks

May 29, 2012

National Agricultural Cooperative Federation, a South Korean lender commonly known as NongHyup, signed an 8 billion yen ($101 million) one-year loan with four banks, said Simon Kim, a senior manager in the international financing division.

The loan pays a rate that includes margin and fees of as much as 120 basis points over benchmark rates, according to Kim. NongHyup signed the loan with Australia & New Zealand Banking Group Ltd. (ANZ), Commerzbank AG, Standard Chartered Plc and Sumitomo Mitsui Trust Holdings Inc. (8309), he said.

To contact the reporters on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net; Taejin Park in Seoul at tpark31@bloomberg.net

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


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