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Rentenbank plans to raise up to A$ 2bn in 2006

26 January 2006

Landwirtschaftliche Rentenbank, Germany's agency for agriculture and rural areas, today announced its issuing plans in the Australian Dollar domestic market for 2006. Rentenbank aims to raise up to A$ 2bn for its medium- and long-term funding via its A$ MTN Programme, unchanged from 2005. Issuance is likely to include increases of outstanding transactions as well as new issues to further complete Rentenbank's yield curve.

Rentenbank's outstanding A$ MTN issues have an aggregate volume of A$ 4.05bn. The German agency is rated Aaa/AAA/AAA by Moody's Investors Service, Standard & Poor's and Fitch Ratings, respectively. The outlook on all ratings is stable.

The A$ 5bn MTN Programme was set up in 2000. In 2002, Rentenbank issued A$ 300m off the programme, followed by A$ 1.75bn in 2004 and A$ 2bn in 2005. In March 2004 The Reserve Bank of Australia has declared Rentenbank's A$ MTN issues eligible for repurchase agreements with the RBA.

Details of Rentenbank's outstanding A$ issues:

AUD 500m 5.50% Notes due April 16, 2007
AUD 1,600m 6.00% Notes due September 15, 2009
AUD 1,050m 5.75% Notes due June 15, 2011
AUD 900m 5.75% Notes due January 21, 2015
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