By Devika Patel and Cristal Cody
Knoxville, Tenn., Oct. 5 – KfW (Aaa/AAA/AAA) priced a $500 million no-grow tap of floating-rate global notes due Feb. 12, 2024 at 102.125 on Tuesday with a coupon of SOFR plus 100 basis points, according to an FWP filed with the Securities and Exchange Commission.
The company previously sold $1 billion of the notes on Feb. 12.
Initial price talk was with a spread in the SOFR plus 11 bps area.
BMO Capital Markets and Citigroup were the bookrunners.
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: | Floating-rate global notes
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| Amount: | $500 million
|
| Maturity: | Feb. 12, 2024
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| Bookrunners: | BMO Capital Markets and Citigroup
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| Coupon: | SOFR plus 100 bps
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| Price: | 102.125
|
| Trade date: | Oct. 5
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| Settlement date: | Oct. 13
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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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| Guidance: | SOFR plus 11 bps area
|
| Total outstanding: | $1.5 billion, including $1 billion sold on Feb. 12
|
| Cusip: | 500769JK1
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