By Rebecca Melvin and Cristal Cody
Concord, N.H., April 22 – KfW’s $5 billion of 3% global notes due May 20, 2027 priced on Thursday at 99.831 with a spread of 31 basis points over SOFR mid-swaps, or Treasuries plus 10.45 bps, according to additional details of the issuance from a market source.
The notes had been talked at the SOFR mid-swaps plus 33 bps area.
The Securities and Exchange Commission-registered KfW (Aaa/AAA//Scope: AAA) notes are guaranteed by Germany.
BMO Capital Markets, JPMorgan and RBC Capital Markets are the managers.
The notes will be listed on the Luxembourg Stock Exchange.
Prior to pricing, the notes had been talked in the SOFR mid-swaps plus 33 bps area.
KfW is a German government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $5 billion
|
| Issue: | Global notes
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| Maturity: | May 20, 2027
|
| Managers: | BMO Capital Markets, JPMorgan and RBC Capital Markets
|
| Coupon: | 3%
|
| Price: | 99.831
|
| Spread: | SOFR mid-swaps plus 31 bps, or Treasuries plus 10.45 bps
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
| Issuer ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Distribution: | SEC registered
|
| Price talk: | SOFR mid-swaps plus 33 bps area
|
| Cusip: | 500769JT2
|
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