By Andrea Heisinger
New York, Sept. 5 - Landwirtschaftliche Rentenbank sold $1.5 billion of 0.875% five-year notes on Wednesday to yield mid-swaps plus 15 basis points, or 31.7 bps over Treasuries, a market source away from the trade said.
The deal priced at the tight end of talk in the mid-swaps plus 17 bps area.
The notes (Aaa/AAA/AAA) were priced at 99.776. There is no call option.
Goldman Sachs International, HSBC Securities (USA) LLC and Nomura Securities International Inc. were the bookrunners.
Proceeds will be used to finance lending activities.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 12, 2017
|
| Bookrunners: | Goldman Sachs International, HSBC Securities (USA) LLC, Nomura Securities International Inc.
|
| Coupon: | 0.875%
|
| Price: | 99.776
|
| Spread: | Mid-swaps plus 15 bps, Treasuries plus 31.7 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 12
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Price talk: | Mid-swaps plus 17 bps area
|
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