By Cristal Cody and Wendy Van Sickle
Columbus, Ohio, March 23 – Landwirtschaftliche Rentenbank priced $1.75 billion of 0.875% five-year global notes 99.591 on Tuesday, according to a filing with the Securities and Exchange Commission.
The offering was launched at mid-swaps plus 3 basis points from initial talk in the mid-swaps plus 5 bps area.
The notes will be guaranteed by the Federal Republic of Germany.
BofA Securities Europe SA, Citigroup Global Markets Europe AG, J.P. Morgan AG and NatWest Markets NV are the managers.
Proceeds will be used to refinance existing debt.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
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| Guarantor: | Federal Republic of Germany
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| Issue: | Global notes
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| Amount: | $1.75 billion
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| Maturity: | March 30, 2026
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| Managers: | BofA Securities Europe SA, Citigroup Global Markets Europe AG, J.P. Morgan AG and NatWest Markets NV
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| Coupon: | 0.875%
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| Price: | 99.591
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| Pricing date: | March 23
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| Settlement date: | March 30
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| Talk: | Mid-swaps plus 3 bps from initial talk in the mid-swaps plus 5 bps area
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