By Andrea Heisinger
New York, Sept. 8 - Landwirtschaftliche Rentenbank priced $1.5 billion of 1.875% seven-year senior notes on Thursday to yield mid-swaps plus 30 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were priced in line with guidance in the mid-swaps plus 30 bps area.
The notes (Aaa/AAA/AAA) were sold at 99.342. They are non-callable.
The securities are guaranteed by Germany.
Bookrunners were Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., HSBC Bank plc and J.P. Morgan Securities Ltd.
Proceeds will be used to finance lending activities.
The German development agency for agribusiness is based in Frankfurt.
| Issuer: | Landwirtschaftliche Rentenbank
|
| Guarantor: | Germany
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 17, 2018
|
| Bookrunners: | Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., HSBC Bank plc, J.P. Morgan Securities Ltd.
|
| Coupon: | 1.875%
|
| Price: | 99.342
|
| Spread: | Mid-swaps plus 30 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 15
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 30 bps area
|
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