Chicago, June 28 – KfW (Aaa/AAA/AAA) priced €4 billion of 2% long seven-year green bonds on Tuesday, according to a market source.
The notes priced at 99.174 to yield 2.123%, or at a spread of 16 basis points over mid-swaps. Alternatively, the spread was 63 bps over Bunds.
Books closed on more than €13.6 billion of orders for the Regulation S offering.
Guidance was in the 15 bps area over mid-swaps.
The bonds will be guaranteed by the Federal Republic of Germany.
Barclays, BNP Paribas, BofA Securities and DZ Bank are the lead managers, with BNP handling billing and delivery.
The euro-denominated bonds will be used to finance new eligible green projects.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
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| Amount: | €4 billion
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| Issue: | Green bonds
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| Maturity: | Nov. 15, 2029
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| Bookrunners: | Barclays, BNP Paribas, BofA Securities and DZ Bank
|
| Coupon: | 2%
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| Price: | 99.174
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| Yield: | 2.123%
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| Spread: | Mid-swaps plus 16 bps, or Bunds plus 63 bps
|
| Trade date: | June 28
|
| Settlement date: | July 5
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 15 bps area
|
| ISIN: | XS2498154207
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