Leading international law firm Clifford Chance has advised the National Agricultural Cooperative Federation (NACF) in its successful debt liability management exercise including solicitation of consents from the holders of its outstanding US$400,000,000 5.55% notes due 2012, US$180,000,000 8.50% notes due 2014, US$500,000,000 5.00% notes due 2014, US$500,000,000 4.25% notes due 2016, US$500,000,000 3.50% notes due 2017, HKD230,000,000 4.80% notes due 2012, HKD250,000,000 4.56% notes due 2013, SGD50,000,000 1.10% notes due 2012, SGD38,000,000 zero coupon notes due 2012, SGD40,000,000 1.27% notes due 2013 and JPY10,000,000,000 3.16% notes due 2 May 2018.