By Aleesia Forni
Virginia Beach, Feb. 12 - Landwirtschaftliche Rentenbank sold $1 billion of 1.75% notes (Aaa/AAA/AAA) due 2019 on Wednesday at 99.624 to yield 11 basis points over mid-swaps, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes priced at the tight end of talk, which was set in the area of mid-swaps plus 12 bps.
The bookrunners were Citigroup Global Markets Inc., Daiwa Capital Markets Europe, Goldman Sachs International and TD Securities.
Proceeds will be used to finance the bank's lending activities.
The notes are guaranteed by the Federal Republic of Germany.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Maturity: | April 15, 2019
|
| Bookrunners: | Citigroup Global Markets Inc., Daiwa Capital Markets Europe, Goldman Sachs International, TD Securities
|
| Coupon: | 1.75%
|
| Price: | 99.624
|
| Spread: | Mid-swaps plus 11 bps
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 20
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 12 bps area
|
| Distribution: | SEC registered
|
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