By Cristal Cody
Tupelo, Miss., Sept. 15 – KfW (Aaa/AAA/AAA) priced $4 billion of 0.25% three-year global notes on Tuesday at mid-swaps plus 4 basis points, or Treasuries plus 11.25 bps, according to a market source.
The notes were initially talked to price at the mid-swaps plus 5 bps area.
Barclays, Morgan Stanley & Co. International plc and Nomura International plc were the bookrunners.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
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| Amount: | $4 billion
|
| Description: | Global notes
|
| Maturity: | Oct. 19, 2023
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| Bookrunners: | Barclays, Morgan Stanley & Co. International plc and Nomura International plc
|
| Coupon: | 0.25%
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| Spread: | Mid-swaps plus 4 bps, or Treasuries plus 11.25 bps
|
| Trade date: | Sept. 15
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Price talk: | Mid-swaps plus 5 bps area
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