New Issue: Rentenbank sells $600 million five-year floaters at Libor plus 25 bps

By Cristal Cody

Eureka Springs, Ark., May 25 – Landwirtschaftliche Rentenbank sold an upsized $600 million of five-year floating-rate notes on top of guidance at Libor plus 25 basis points on Wednesday, according to a market source.

The deal size was increased from $500 million.

Barclays, Deutsche Bank AG, London Branch and HSBC Securities (USA) Inc. were the managers for the Rule 144A and Regulation S offering.

The German development agency for agribusiness is based in Frankfurt.

Issuer:	Landwirtschaftliche Rentenbank
Amount:	$600 million
Maturity:	June 3, 2021
Securities:	Floating-rate notes
Bookrunners:	Barclays, Deutsche Bank AG, London Branch and HSBC Securities (USA) Inc.
Coupon:	Libor plus 25 bps
Pricing date:	May 25
Ratings:	Moody’s: Aaa
	S&P: AAA
	Fitch: AAA
Distribution:	Rule 144A, Regulation S
Price talk:	Libor plus 25 bps area

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