By Cristal Cody
Tupelo, Miss., Sept. 17 – Landwirtschaftliche Rentenbank (Aaa/AAA/AAA) priced $1 billion of 1.75% two-year senior notes at 99.898 and a spread of mid-swaps plus 7 basis points on Tuesday, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the mid-swaps plus 9 bps area.
Credit Agricole CIB, Goldman Sachs International, J.P. Morgan Securities plc and Merrill Lynch International were the bookrunners.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | Sept. 24, 2021
|
| Bookrunners: | Credit Agricole CIB, Goldman Sachs International, J.P. Morgan Securities plc and Merrill Lynch International
|
| Coupon: | 1.75%
|
| Price: | 99.898
|
| Spread: | Mid-swaps plus 7 bps, or Treasuries plus 6.1 bps
|
| Trade date: | Sept. 17
|
| Settlement date: | Sept. 24
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 9 bps area
|
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