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Rentenbank plans to keep the Kangaroo market as a strategic source of funding in 2010

10 December 2009

Rentenbank, Germany's agency for agribusiness, today announced its plans for the Australian Dollar domestic market in 2010. Rentenbank remains committed to issuing in the Kangaroo market. New issue volume will be in line with previous years.

Plans include new issues and well supported increases of outstanding transactions, underpinning the strategic approach to this market. The agency will focus on the five to seven year part of the curve reflecting investor demand.

Outstanding A$ MTN issues have an aggregate volume of A$ 5.7bn making Rentenbank the 3rd largest Kangaroo issuer. The borrower has an A$ 500m issue maturing in July 2010.
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.

Rentenbank's A$ MTN issues are eligible for repurchase agreements with the RBA (Reserve Bank of Australia).

Details of Rentenbank's outstanding A$ issues:

AUD 500m 6.25% notes due July 19, 2010
AUD 1,700m 5.75% notes due June 15, 2011*
AUD 1,300m 6.00% notes due May 30, 2013
AUD 1,000m 6.00% notes due July 15, 2014
AUD 1,200m 5.75% notes due January 21, 2015

* Issue will not be increased

 
Service: Rentenbank is Germany's agency for agribusiness. As partner to an important growth sector with global responsibility, the bank promotes this sector with various programmes. The bank is Triple A rated by the three major rating agencies and raises funds in domestic and international capital markets. With total assets of EUR 78.6 billion (as of June 30, 2009), Rentenbank is among the 20 largest German banks.
 
 
Forward-Looking Statements: This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of Rentenbank's management and currently available information. Such statements include, in particular, statements about our plans, strategies and prospects. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Except as required by law, Rentenbank does not have any intention or obligation to update publicly any forward-looking statements after they are made, whether as a result of new information, future events or otherwise.