Germany's Rentenbank launches $1.25 billion seven-year notes at mid-swaps plus 4 bps

By Aleesia Forni

Virginia Beach, Sept. 24 – Landwirtschaftliche Rentenbank launched a $1.25 billion offering of seven-year notes at mid-swaps plus 4 basis points on Wednesday, an informed source said.

The deal’s launch comes at the tight end of talk, which was set in the area of mid-swaps plus 6 bps.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Nomura and RBC Capital Markets LLC are managing the sale.

Proceeds will be used to finance lending activities.

The German development agency for agribusiness is based in Frankfurt.

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