Bond National Agricultural Credit Banks 0% ( US3133ENGM66 ) in USD

Issuer National Agricultural Credit Banks
Market price 100 %  ▲ 
Country  United States
ISIN code  US3133ENGM66 ( in USD )
Interest rate 0%
Maturity 08/12/2023 - Bond has expired



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Minimal amount 1 000 USD
Total amount 275 000 000 USD
Cusip 3133ENGM6
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.

This article details the US3133ENGM66 bond, a zero-coupon obligation issued by the Federal Farm Credit Banks. The Federal Farm Credit Banks constitute a critical component of the United States' agricultural financial system, operating as a nationwide network of borrower-owned financial institutions under the oversight of the Farm Credit Administration; as a Government-Sponsored Enterprise (GSE), these entities provide credit and related services to farmers, ranchers, and other rural borrowers across the U.S., and their debt obligations, while not explicitly guaranteed by the U.S. government, are generally perceived to benefit from implicit government backing, contributing to their robust creditworthiness. Identified by ISIN US3133ENGM66 and CUSIP 3133ENGM6, this bond was denominated in USD and represented a total issuance size of $275,000,000, with a minimum purchase size set at $1,000. As a zero-coupon instrument, it paid no periodic interest, with its return derived from the discount at which it was purchased relative to its face value at maturity; despite an indicated payment frequency of 2, no actual coupon payments were distributed. The bond reached its maturity date on December 8, 2023, and has since been fully redeemed and reimbursed at its par value, as reflected by its 100% market price at maturity. Its credit quality was exceptionally high, affirmed by top-tier ratings of AA+ from Standard & Poor's and Aaa from Moody's, reflecting the issuer's strong financial standing and the low credit risk associated with these obligations.