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FRANKFURT - Rentenbank announced Tuesday it plans to issue a benchmark-sized 5-year USD fixed rate note due October 8, 2030, with a guarantee from the Federal Republic of Germany.
J.P. Morgan SE will serve as the stabilization coordinator for the offering, with BMO Capital Markets, Morgan Stanley, and RBC Capital Markets acting as stabilization managers, according to a statement released by J.P. Morgan SE.
The stabilization period is expected to begin Tuesday and continue until October 30, 2025. During this time, stabilization managers may over-allot securities by up to 5% of the aggregate nominal amount to support the market price.
The notes will be denominated in increments of US$1,000 and will be listed on the Luxembourg Stock Exchange’s Regulated Market. The coupon rate and offer price have not yet been determined.
Rentenbank, also known as RENTEN, is a German agency that serves as the development bank for agriculture and rural areas. The securities will not be registered under the United States Securities Act of 1933 and are not being offered to investors in the United States.
The stabilization managers may conduct transactions to support the securities’ price at levels higher than might otherwise prevail in the open market, though such stabilization is not guaranteed to occur and may end at any time before the stabilization period concludes.
The announcement indicates that the offering is directed at qualified investors outside the United Kingdom or high net worth individuals within the UK who have professional experience in investment matters.
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