By Marisa Wong and Cristal Cody
Los Angeles, Jan. 12 – KfW (Aaa/AAA/AAA) priced $5 billion of 1.25% three-year global notes on Tuesday at mid-swaps plus 10 basis points, or a spread of 8.1 bps to Treasuries, according to additional details of the issuance from a market source.
As previously reported, the notes priced at 99.852, according to an FWP filed Tuesday with the Securities and Exchange Commission.
BofA Securities, Citigroup and TD Securities were the bookrunners.
The notes were initially talked to price with a spread in the mid-swaps plus 13 bps area.
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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| Amount: | $5 billion
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| Issue: | Global notes
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| Maturity: | Jan. 31, 2025
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| Bookrunners: | BofA Securities, Citigroup and TD Securities
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| Coupon: | 1.25%
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| Price: | 99.852
|
| Spread: | Mid-swaps plus 10 bps, or Treasuries plus 8.1 bps
|
| Trade date: | Jan. 11
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| Settlement date: | Jan. 19
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| Issuer 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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| Price talk: | Mid-swaps plus 13 bps area
|
| Cusip: | 500769JR6
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