By Aleesia Forni
Virginia Beach, Jan. 6 – Landwirtschaftliche Rentenbank priced $2 billion of 2% notes (Aaa/AAA/AAA) due 2025 at mid-swaps plus 9 basis points on Tuesday, according to an informed source and a FWP filed with the Securities and Exchange Commission.
Pricing was at the tight end of talk.
Proceeds will be used to finance lending activities, including the refinancing of existing liabilities.
Barclays, Citigroup Global Markets Inc., Deutsche Bank and TD Securities were managing the sale.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
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| Amount: | $2 billion
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| Description: | Notes
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| Maturity: | Jan. 13, 2025
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| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank AG, London branch, TD Securities
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| Coupon: | 2%
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| Price: | 98.995
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| Spread: | Mid-swaps plus 9 bps
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| Trade date: | Jan. 6
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| Settlement date: | Jan. 13
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| Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AAA
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| Fitch: AAA
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| Price talk: | Mid-swaps plus 10 bps area
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| Distribution: | SEC-registered
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