Rentenbank launches $2 billion of five-year fixed-rate notes at mid-swaps plus 21 bps

By Cristal Cody

Tupelo, Miss., May 19 – Landwirtschaftliche Rentenbank (Aaa/AAA/AAA) launched a $2 billion registered offering of five-year senior notes on Tuesday at mid-swaps plus 21 basis points, according to a market source.

Initial price talk was in the mid-swaps plus 24 bps area.

Barclays, BNP Paribas Securities Corp., HSBC Bank plc and Morgan Stanley & Co. International plc are the bookrunners.

Proceeds will be used to finance lending activities.

The German development agency for agribusiness is based in Frankfurt.

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