By Andrea Heisinger
New York, Oct. 16 - Landwirtschaftliche Rentenbank priced $1.25 billion 1.375% seven-year notes on Tuesday at a spread of mid-swaps plus 22 basis points, or Treasuries plus 33.3 bps, an informed source said.
The notes (Aaa/AAA/AAA) were sold tighter than guidance given Monday in the mid-swaps plus 25 bps area.
Pricing was at 99.456. There is no call option.
Active bookrunners were Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBC Capital Markets LLC. Passive bookrunners were Credit Agricole Securities, DZ Bank and TD Securities (USA) LLC.
Proceeds will be used to finance lending activities.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Maturity: | Oct. 23, 2019
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC (active), Credit Agricole Securities, DZ Bank, TD Securities (USA) LLC
|
| Coupon: | 1.375%
|
| Price: | 99.456
|
| Spread: | Mid-swaps plus 22 bps, Treasuries plus 33.3 bps
|
| Call: | Non-callable
|
| Trade date: | Oct. 16
|
| Settlement date: | Oct. 23
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 25 bps area
|
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