Rentenbank launches five-year global notes at mid-swaps plus 3 bps

By Devika Patel and Cristal Cody

Knoxville, Tenn., March 23 – Landwirtschaftliche Rentenbank launched its offering of dollar-denominated global notes due March 30, 2026 at mid-swaps plus 3 basis points, according to a market source.

Initial price talk was in the mid-swaps plus 5 bps area.

The notes will be guaranteed by the Federal Republic of Germany.

BofA Securities, Inc., Citigroup, JPMorgan and NatWest Markets Inc. are the managers.

Proceeds will be used to refinance existing debt.

The German development agency for agribusiness is based in Frankfurt.

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