Hunton Andrews Kurth Advises on $400 Million of SEC Registered Social Bonds for National Rural Utilities Cooperative Finance Corporation

Hunton Andrews Kurth LLP advised the underwriters in an offering by National Rural Utilities Cooperative Finance Corporation (CFC) of an aggregate principal amount of $400 million of collateral trust bonds. CFC intends to use the proceeds from the offering to finance or refinance, in whole or in part, eligible projects which include increasing access to essential services for underserved and rural populations and investments, expenditures or disbursements related to the construction, acquisition, maintenance and operation of renewable energy, including solar, wind, geothermal and renewable battery storage.

CFC is a member-owned cooperative association. Its principal purpose is to provide members with financing to supplement the loan programs of the Rural Utilities Service of the United States Department of Agriculture. CFC makes loans to its rural electric members so they can acquire, construct and operate electric distribution, generation, transmission systems and related facilities. CFC also provides its members with credit enhancements in the form of letters of credit and guarantees of debt obligations. As a member-owned cooperative, CFC has no publicly held equity securities outstanding. CFC funds its activities primarily through a combination of publicly and privately held debt securities and member investments.

The Hunton Andrews Kurth team included Michael Fitzpatrick, Adam O’Brian, S. Ashley Jaber and Shelby Stanton. Robert McNamara and Tim Strother provided tax advice.