National Rural Utilities Cooperative Finance Corporation (NRUC) has amended its revolving credit agreements, extending the maturity dates and increasing the commitments by $250 million for both its three-year and four-year facilities, as reported in its latest SEC filing.
On Thursday, NRUC, a finance cooperative serving rural utility systems, announced significant changes to its credit arrangements. The maturity date of the three-year revolving credit agreement has been extended to November 28, 2027, and the four-year agreement to November 28, 2028.
Additionally, the amendments include an increase of $250 million in commitments for each agreement, not including the $150 million commitment that was terminated under the three-year agreement.
Prior to the amendments, commitments that were set to mature on November 28, 2025, have been terminated, while commitments of $150 million under the four-year agreement will still expire on the previously set date of November 28, 2026.
Following these changes, the total commitment amounts under the three-year and four-year facilities are $1,595 million and $1,705 million, respectively. The combined total commitment amount for both facilities is now $3,300 million, of which $3,298 million is available due to letter of credit issuances.
The financial instruments affected by these amendments are listed on the New York Stock Exchange, with the 7.35% Collateral Trust Bonds due 2026 and the 5.50% Subordinated Notes due 2064 under the trading symbols NRUC 26 and NRUC, respectively.
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