Bond National Agricultural Credit Banks 0% ( US3133EM6Q03 ) in USD

Issuer National Agricultural Credit Banks
Market price 100 %  ⇌ 
Country  United States
ISIN code  US3133EM6Q03 ( in USD )
Interest rate 0%
Maturity 29/03/2023 - Bond has expired



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Minimal amount 1 000 USD
Total amount 275 000 000 USD
Cusip 3133EM6Q0
Standard & Poor's ( S&P ) rating AA+ ( High grade - Investment-grade )
Moody's rating Aaa ( Prime - Investment-grade )
Detailed description The Federal Farm Credit Banks are a government-sponsored enterprise system providing credit and other financial services to farmers, ranchers, and agricultural cooperatives.

The US3133EM6Q03 bond, identified by CUSIP 3133EM6Q0, which was issued by the Federal Farm Credit Banks (FFCBs) in the United States, recently reached its maturity on March 29, 2023, and has since been fully repaid, confirming its status as a robust debt instrument within the U.S. fixed-income market. The Federal Farm Credit Banks comprise a nationwide network of borrower-owned lending institutions and service organizations. Established by Congress in 1916, their core mission is to provide credit and related services to farmers, ranchers, aquatic producers, and rural homeowners, as well as to agricultural and rural utility cooperatives, making them a crucial government-sponsored enterprise (GSE) that ensures a stable and reliable source of funding for American agriculture and rural development, thereby underpinning the strong credit quality of their issued debt. This specific bond was denominated in United States Dollars (USD) and notably featured a 0% interest rate, functioning as a zero-coupon obligation, meaning investors would have acquired it at a discount and received its par value, or 100% of its face amount, at maturity, which was successfully executed upon repayment. The total issuance size for this security amounted to $275,000,000, with a minimum purchase increment of $1,000, making it accessible to a range of investors. While a payment frequency of 2 (semi-annual) was indicated, for a zero-coupon bond, this generally pertains to a standard reporting field or the structure of other FFCB debt, as no periodic coupon payments were distributed for this particular instrument. The strong financial standing of the Federal Farm Credit Banks is consistently reflected in the high credit ratings assigned by leading agencies: Standard & Poor's (S&P) assigned a rating of AA+, while Moody's provided its highest rating of Aaa, both underscoring the exceptionally low credit risk associated with FFCB debt, a testament to the implicit government support for the system and its vital role in the U.S. economy, affording investors a high degree of confidence in the issuer's capacity to fulfill its financial obligations. The successful maturity and repayment of this bond further exemplify the reliability of debt instruments issued by the Federal Farm Credit Banks within the U.S. fixed-income market.