By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, June 6 – Landwirtschaftliche Rentenbank priced $1.25 billion of 3.875% five-year notes at 99.474 on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
Pricing came at SOFR mid-swaps plus 35 basis points, or Treasuries plus 13.38 bps. The notes were talked in the SOFR mid-swaps plus 36 bps area.
Citigroup Global Markets Europe AG, HSBC Continental Europe, RBC Capital Markets LLC and Toronto-Dominion Bank are bookrunners.
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.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Amount: | $1.25 billion
|
| Issue: | Notes
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| Maturity: | June 14, 2028
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| Bookrunners: | Citigroup Global Markets Europe AG, HSBC Continental Europe, RBC Capital Markets LLC and Toronto-Dominion Bank
|
| Trustee: | Deutsche Bank Trust Co., Americas as fiscal agent
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| Counsel to issuer: | Sullivan & Cromwell LLP
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| Counsel to underwriters: | Hogan Lovells
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| Coupon: | 3.875%
|
| Price: | 99.474
|
| Spread: | SOFR mid-swaps plus 35 bps, or Treasuries plus 13.38 bps
|
| Trade date: | June 6
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| Settlement date: | June 14
|
| Issuer ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price talk: | SOFR mid-swaps plus 36 bps area
|
| Cusip: | 515110CD4
|
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