National Rural Utilities Cooperative Finance Corporation (NRUC) has filed Pricing Supplement No. 10289 under Rule 424(b)(3) for the issuance of Medium-Term Notes, Series D.
- Principal amount: US$250,000, priced at 100% of par
- Coupon: 4.29% fixed, paid semi-annually on January 15 and July 15; record dates are January 1 and July 1
- Issue date: July 15 2025; Maturity: June 15 2026 (roughly 11-month tenor)
- Form: Certificated note; no redemption option before maturity
- Agents’ commission: None, indicating direct placement
The legal opinion from Hogan Lovells US LLP states that, upon proper execution and receipt of consideration, the notes will constitute valid and binding obligations of NRUC, subject to customary bankruptcy and equitable principles. The opinion is limited to District of Columbia and New York law.
Series D notes may be issued in an unlimited aggregate principal amount; however, this supplement covers only the US$250k tranche detailed above. No additional financial metrics, covenants, or use-of-proceeds information is provided in the filing.
National Rural Utilities Cooperative Finance Corporation (NRUC) filed a Rule 424(b)(3) pricing supplement for a $1.0 million tranche of its Medium-Term Notes, Series D. Key terms are as follows:
- Principal amount: $1,000,000, issued at 100% of par
- Coupon: 4.20% fixed, paid semi-annually on January 15 and July 15
- Maturity: January 15, 2027 (approximately 1.5-year tenor)
- Record dates: January 1 and July 1
- Form: Certificated (not book-entry)
- Redemption: none (bullet maturity)
- Agents’ commission: none disclosed
The filing reiterates that Series D notes may be issued in an unlimited aggregate principal amount; this pricing supplement covers only the specific tranche above. Hogan Lovells US LLP provided a customary valid and binding obligations legal opinion, subject to standard bankruptcy, insolvency and equitable-principles carve-outs under District of Columbia and New York law.
Given the modest size and routine nature of the issuance, the filing appears to be an incremental funding action rather than a transformative capital event.
National Rural Utilities Cooperative Finance Corporation (NRUC) filed a Rule 424(b)(3) pricing supplement for the issuance of a single $750,000 Medium-Term Note, Series D.
- Coupon: fixed 4.12% per annum, paid semi-annually on January 15 and July 15, with record dates on January 1 and July 1.
- Issue & Maturity: Original issue date July 15 2025; maturity date July 15 2027 (two-year tenor).
- Price & Fees: Issued at 100% of principal with no agent commission.
- Form: Certificated note; no call/redemption features.
- Shelf Program: Series D notes may be issued in an unlimited aggregate principal amount; this filing covers the specific $750k tranche.
- Legal opinion: Hogan Lovells US LLP states the note will be a valid and binding obligation, subject to customary bankruptcy and equitable considerations under D.C. and New York law.
The filing is routine debt financing documentation and does not disclose additional financial performance data or strategic transactions.