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Rentenbank books are over $1.5 billion for $1 billion notes due 2020
By Devika Patel
Knoxville, Tenn., Feb. 14 – Landwirtschaftliche Rentenbank (Aaa/AAA/AAA) has books in excess of $1.5 billion for its previously announced $1 billion offering of fixed-rate notes due Feb. 21, 2020, which will be guaranteed by Germany, according to a market source.
Initial price talk was in the mid-swaps plus 3 basis points area.
Pricing of the Rule 144A and Regulation S notes was expected on Wednesday.
BNP Paribas Securities Corp., BofA Merrill Lynch, Goldman Sachs & Co. and RBC Capital Markets Corp. are the bookrunners.
The German development agency for agribusiness is based in Frankfurt.
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