By Devika Patel
Knoxville, Tenn., Jan. 12 – KfW (Aaa/AAA//Scope: AAA) priced $5 billion of 0.625% five-year global notes on Tuesday at 99.985, according to an FWP filed with the Securities and Exchange Commission.
BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The notes were initially talked to price with a spread in the mid-swaps plus 5 basis points area.
KfW is a government-backed bank based in Frankfurt. The notes will be guaranteed by the Federal Republic of Germany.
| Issuer: | KfW
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| Guarantor: | Federal Republic of Germany
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| Description: | Global notes
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| Amount: | $5 billion
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| Maturity: | Jan. 22, 2026
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| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
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| Coupon: | 0.625%
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| Price: | 99.985
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| Trade date: | Jan. 12
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| Settlement date: | Jan. 20
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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: | SEC registered
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| Price talk: | Mid-swaps plus 5 bps area
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