By Cristal Cody
Eureka Springs, Ark., Nov. 29 – Landwirtschaftliche Rentenbank priced $1.5 billion of 2% five-year senior notes on Tuesday at 99.547, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (Aaa/AAA/AAA) priced at mid-swaps plus 28.45 basis points.
The notes were talked to price at mid-swaps plus 32 bps, tighter than initial guidance in the mid-swaps plus 33 bps area.
Barclays, HSBC Securities (USA) Inc., RBC Capital Markets Corp. and Scotiabank Europe plc were the bookrunners.
Proceeds will be used to finance lending activities.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Maturity: | Dec. 6, 2021
|
| Bookrunners: | Barclays, HSBC Securities (USA) Inc., RBC Capital Markets Corp., Scotiabank Europe plc
|
| Coupon: | 2%
|
| Price: | 99.547
|
| Spread: | Mid-swaps plus 28.45 bps
|
| Call feature: | None
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Listing: | SIX Swiss Exchange
|
| Price guidance: | Mid-swaps plus 32 bps area
|
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