By Devika Patel
Knoxville, Tenn., Jan. 24 – KfW (Aaa/AAA//Scope: AAA) priced $3 billion of 2.875% global notes due April 3, 2028 on Wednesday at 99.995, according to an FWP filed with the Securities and Exchange Commission.
BofA Merrill Lynch, J.P. Morgan Securities LLC and TD Securities (USA) LLC are the lead managers.
The notes were initially talked to price with a spread in the mid-swaps plus 23 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: | $3 billion
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| Maturity: | April 3, 2028
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| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC and TD Securities (USA) LLC
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| Stabilization manager: | J.P. Morgan Securities plc
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| Coupon: | 2.875%
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| Price: | 99.995
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| Trade date: | Jan. 24
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| Settlement date: | Jan. 31
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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 23 bps area
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