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Rentenbank plans to issue benchmark seven-year global notes Thursday
By Andrea Heisinger
New York, Sept. 1 - Landwirtschaftliche Rentenbank announced a benchmark offering of seven-year global notes on Wednesday, according to a 424B5 filing with the Securities and Exchange Commission.
Pricing is expected on Thursday, a source close to the deal said late in the day.
The notes had been talked on Tuesday in the area of mid-swaps plus 30 basis points.
The notes (Aaa/AAA/AAA) are non-callable and backed by the Republic of Germany.
Bookrunners are HSBC Securities, J.P. Morgan Securities and RBC Capital Markets.
Proceeds are going to finance lending activities.
The financial institution for the agriculture and food industry is based in Frankfurt.
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