New Issue: Germany’s Rentenbank prices $1.5 billion 2.375% 10-year notes at mid-swaps plus 10 bps

By Aleesia Forni

Virginia Beach, June 2 – Landwirtschaftliche Rentenbank sold $1.5 billion of senior notes due June 10, 2025 on Tuesday at mid-swaps plus 10 basis points, according to an informed source.

The notes (Aaa/AAA/AAA) priced at 99.497.

BofA Merrill Lynch, Credit Suisse, HSBC Securities and RBC Capital Markets LLC managed the sale.

The German development agency for agribusiness is based in Frankfurt.

Issuer:	Landwirtschaftliche Rentenbank
Amount:	$1.5 billion
Description:	Senior notes
Maturity:	June 10, 2025
Lead managers:	BofA Merrill Lynch, Credit Suisse, HSBC Securities, RBC Capital Markets LLC
Coupon:	2.375%
Price:	99.497
Spread:	Mid-swaps plus 10 bps
Trade date:	June 2
Settlement date:	June 10
Ratings:	Moody’s: Aaa
	Standard & Poor’s: AAA
	Fitch: AAA
Price guidance:	Mid-swaps plus 10 bps area

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