October 30, 2020
Hunton Andrews Kurth LLP advised the agents for the renewal of National Rural Utilities Cooperative Finance Corporation’s (“CFC”) SEC-registered Medium-Term Notes program and InterNotes® program.
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 F. Fitzpatrick, Adam R. O’Brian and S. Ashley Jaber. Robert McNamara and Tim Strother provided tax advice.