By Cristal Cody
Chicago, June 23 – KfW (Aaa/AAA/AAA) priced $3 billion of 3.125% global notes due 2025, according to a market source and an FWP filing with the Securities and Exchange Commission.
The spread priced out at 22 basis points over SOFR mid-swaps, or 11.88 bps over Treasuries. Talk was in the 23 bps area over SOFR mid-swaps.
Citigroup, Morgan Stanley and Nomura are the bookrunners.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
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| Amount: | $3 billion
|
| Issue: | Global notes
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| Maturity: | June 10, 2025
|
| Bookrunners: | Citigroup, Morgan Stanley and Nomura
|
| Paying agent: | Bank of New York
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| Coupon: | 3.125%
|
| Price: | 99.99
|
| Spread: | SOFR mid-swaps plus 22 bps, or Treasuries plus 11.88 bps
|
| Trade date: | June 23
|
| Settlement date: | June 30
|
| Distribution: | SEC registered
|
| Price talk: | SOFR mid-swaps plus 23 bps area
|
| Cusip: | 500769JU9
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