By Devika Patel and Cristal Cody
Knoxville, Tenn., Oct. 13 – KfW (Aaa/AAA//Scope: AAA) priced $3 billion of 1% five-year green global notes on Wednesday at 99.458 to yield SOFR mid-swaps plus 19 basis points, according to an FWP filed with the Securities and Exchange Commission and a market source.
The notes were talked to price with a spread in the SOFR mid-swaps plus 21 bps area.
BofA Securities, HSBC and TD Securities were the bookrunners.
Half of the proceeds will be used for general business purposes, with the remainder used to make loans to finance projects that are in the renewable energies sector.
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: | Green global notes
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| Amount: | $3 billion
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| Maturity: | Oct. 1, 2026
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| Bookrunners: | BofA Securities, HSBC and TD Securities
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| Coupon: | 1%
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| Price: | 99.458
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| Spread: | SOFR mid-swaps plus 19 bps, or Treasuries plus 5.25 bps
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| Trade date: | Oct. 13
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| Settlement date: | Oct. 20
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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 mid-swaps plus 21 bps area
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| Cusip: | 500769JQ8
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