The NCUA yielded $1.5 billion from its first guaranteed note transaction of the year, the agency announced on Thursday.
The coupon on the Senior Notes will be 45 basis points over LIBOR.
The notes are funded by cash flows from corporate credit unions' legacy assets.
It is the NCUA's sixth offering of guaranteed notes and the agency said it has securitized 65% of the legacy assets originally targeted for securitization so it can fund deposits assumed by the bridge corporate credit unions.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
