By Devika Patel
Knoxville, Tenn., July 5 – Landwirtschaftliche Rentenbank priced €1 billion of Regulation S 1.9% 10-year green senior notes (Aaa/AAA/AAA) at 99.415 on Tuesday, according to a market source.
The final order books were in excess of €3.3 billion.
The notes were sold at a spread of mid-swaps minus 11 basis points to yield 1.965%. The bonds were talked in the mid swaps minus 9 bps area.
BNP Paribas, BofA Securities, DekaBank and Societe Generale are the lead managers.
Proceeds will be used in accordance with the bank's green bond framework.
The notes are guaranteed by Germany.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
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| Guarantor: | Germany
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| Amount: | €1 billion
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| Description: | Notes
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| Maturity: | July 12, 2032
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| Bookrunners: | BNP Paribas, BofA Securities, DekaBank and Societe Generale
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| Coupon: | 1.9%
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| Price: | 99.415
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| Yield: | 1.965%
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| Spread: | Mid-swaps minus 11 bps
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| Pricing date: | July 5
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| Settlement date: | July 12
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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: | Regulation S
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| ISIN: | XS2500341990
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| Guidance: | Mid swaps minus 9 bps area
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