KfW to price $500 million tap of floaters due 2024 on Tuesday; talk SOFR plus 11 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Oct. 5 – KfW (Aaa/AAA/AAA) plans to price a $500 million no-grow tap of floating-rate notes due Feb. 12, 2024 on Tuesday, according to a market source.

The notes are initially talked to price with a spread in the SOFR plus 11 basis points area.

BMO Capital Markets Corp. and Citigroup Global Markets Inc. are the bookrunners.

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

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