KfW talks benchmark three-year notes at mid-swaps plus 2 bps area

By Marisa Wong and Cristal Cody

Los Angeles, Feb. 24 – KfW set initial price talk for its planned three-year global notes in the mid-swaps plus 2 basis points area, according to a market source.

The notes were expected to price on Wednesday.

The benchmark Securities and Exchange Commission-registered notes will be guaranteed by the Federal Republic of Germany, as previously reported.

Deutsche Bank, RBC Capital Markets and TD Securities are the bookrunners.

KfW is a German government-backed bank based in Frankfurt.

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