Rentenbank talks seven-year notes in mid-swaps plus 25 bps area

By Andrea Heisinger

New York, Oct. 15 - Landwirtschaftliche Rentenbank announced a benchmark-sized offering of seven-year notes on Monday, with pricing not expected until Tuesday, an informed source said.

The notes (Aaa/AAA/AAA) are being talked in the mid-swaps plus 25 basis points area. There will be no call option.

Bookrunners are Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBC Capital Markets LLC.

Proceeds will be used to finance lending activities.

The German development agency for agribusiness is based in Frankfurt.

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