By Cristal Cody
Eureka Springs, Ark., July 19 – Landwirtschaftliche Rentenbank sold $1.5 billion of 1.75% 10-year benchmark notes at 99.49 on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aaa/AAA/AAA) priced at Treasuries plus 24.45 basis points after being talked at the mid-swaps plus 40 bps area, according to a company news release.
Deutsche Bank AG, London Branch, Nomura International plc, Societe Generale and TD Securities (USA) LLC were the bookrunners.
Proceeds will be used to refinance lending activities, including the refinancing of existing liabilities, according to a form 424B5 filed with the SEC.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Amount: | $1.5 billion
|
| Description: | Benchmark notes
|
| Maturity: | July 27, 2026
|
| Bookrunners: | Deutsche Bank AG, London Branch, Nomura International plc, Societe Generale, TD Securities (USA) LLC
|
| Coupon: | 1.75%
|
| Price: | 99.49
|
| Spread: | Treasuries plus 25.45 bps
|
| Trade date: | July 19
|
| Settlement date: | July 27
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 40 bps area
|
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