By Cristal Cody
Tupelo, Miss., Nov. 7 – Landwirtschaftliche Rentenbank (Aaa/AAA/AAA) gave details of its $1.25 billion of 3.125% five-year notes that priced Tuesday at 99.551 and a spread of mid-swaps plus 5 basis points, or Treasuries plus 18.75 bps, according to a market source.
The issue registered with the Securities and Exchange Commission was initially talked to price in the mid-swaps plus 6 bps area.
HSBC Bank plc, RBC Capital Markets LLC, Societe Generale and Toronto-Dominion Bank were the bookrunners.
Proceeds will be used to finance lending activities.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
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| Amount: | $1.25 billion
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| Description: | Notes
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| Maturity: | Nov. 14, 2023
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| Bookrunners: | HSBC Bank plc, RBC Capital Markets LLC, Societe Generale and Toronto-Dominion Bank Coupon: | 3.125%
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| Price: | 99.551
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| Spread: | Mid-swaps plus 5 bps, or Treasuries plus 18.75 bps
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| Call feature: | None
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| Trade date: | Nov. 6
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| Settlement date: | Nov. 14
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
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| Distribution: | SEC registered
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| Price talk: | Mid-swaps plus 6 bps area
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