Chicago, Nov. 1 – Kreditanstalt fuer Wiederaufbau (KfW) priced a €1 billion tap of its 1.375% green bonds due June 7, 2032 (Aaa/AAA/Scope: AAA) guaranteed by the Federal Republic of Germany, according to a market source.
The notes priced at 88 to yield 2.821%, or mid-swaps plus 16 basis points.
Pricing came on top of guidance in the mid-swaps plus 16 bps area.
Demand went over €1.2 billion.
The bookrunners were BNP Paribas, Commerzbank and DZ Bank.
Proceeds will be used to finance new eligible green projects.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | Kreditanstalt fuer Wiederaufbau (KfW)
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| Guarantor: | Germany
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| Amount: | €1 billion
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| Issue: | Green bonds add-on
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| Maturity: | June 7, 2032
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| Bookrunners: | BNP Paribas (billing and delivery), Commerzbank and DZ Bank
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| Second opinion: | Cicero
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| Coupon: | 1.375%
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| Price: | 88
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| Yield: | 2.821%
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| Spread: | Mid-swaps plus 16 bps
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| Trade date: | Oct. 31
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| Settlement date: | Nov. 7
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Scope: AAA
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| Distribution: | Regulation S
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| Price talk: | Mid-swaps plus 16 bps area
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| ISIN: | XS2475954900
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