By Cristal Cody
Tupelo, Miss., Jan. 19 – Landwirtschaftliche Rentenbank (Aaa/AAA/AAA) priced a $250 million add-on to its floating-rate notes due June 3, 2021 on Thursday to yield Libor plus 1 basis point, according to a market source.
The notes, which carry a coupon of Libor plus 25 bps, priced in line with guidance in the Libor plus 1 bp area.
Citigroup Global Markets Inc., NatWest Markets and RBC Capital Markets, LLC were the bookrunners.
The agency has priced several add-ons to the issue, including most recently a $200 million tap on June 14, 2016 and a $500 million reopening on May 25, 2016. The total outstanding now is $1.25 billion.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Amount: | $250 million reopening
|
| Description: | Floating-rate notes
|
| Maturity: | June 3, 2021
|
| Bookrunners: | Citigroup Global Markets Inc., NatWest Markets and RBC Capital Markets, LLC
|
| Coupon: | Libor plus 25 bps
|
| Yield: | Libor plus 1 bp
|
| Trade date: | Jan. 18
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Libor plus 1 bp area
|
| Total outstanding: | $1.25 billion
|
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