Rentenbank five-year notes talked at SOFR mid-swaps plus 39 bps area

By Marisa Wong and Cristal Cody

Los Angeles, Sept. 21 – Landwirtschaftliche Rentenbank plans to price dollar-denominated global notes due Sept. 28, 2027 guaranteed by Germany, according to a London Stock Exchange notice on Wednesday.

Price talk is in the SOFR mid-swaps plus 39 basis points area, according to a market source.

Bank of Montreal Europe plc, Commerzbank AG, J.P. Morgan SE and Toronto-Dominion Bank are underwriting the offering, with JPMorgan as stabilization coordinator.

Deutsche Bank Trust Co., Americas will be working as the fiscal agent, according to a 424B5 filed Tuesday with the Securities and Exchange Commission.

Sullivan & Cromwell LLP is working as a legal adviser for the issuer. Hogan Lovells is advising the underwriters.

Proceeds will be used to finance lending activities, including to refinance existing liabilities.

The notes will be listed on the Luxembourg Stock Exchange.

The German development agency for agribusiness is based in Frankfurt.

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