The National Agricultural Cooperative Federation (NACF) has raised $500 million through a sale of senior unsecured notes, Reuters reports. The South Korean financial institution sold the bonds in the 144a private placement market.

The securities, which carry a coupon rate of $3.5%, will mature in 2017. The joint book-runners for the sale were Bank of America, Citi, Credit Agricole, Deutsche Bank and Standard Chartered.

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