The NCUA announced today that it had closed the sale of NCUA Guaranteed Notes Trust 2011-R4 on Thursday, March 31. The transaction yielded about $1.525 billion.

The coupon on the Senior Notes was priced at 38 basis points above LIBOR, which showed "strong investor interest," according to an NCUA statement.

This deal is the tenth sale of NCUA Guaranteed Notes, with five deals completed in 2010 and five so far in 2011. According to NCUA, it now has securitized about 85% of the legacy assets targeted to fund deposits assumed by the bridge corporate credit unions.

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