By Marisa Wong and Cristal Cody
Los Angeles, Jan. 10 – KfW priced $4 billion of 3.75% five-year global notes (Aaa/AAA/Scope: AAA) at 99.531 on Tuesday, according to a FWP filed with the Securities and Exchange Commission and a market source.
The notes are guaranteed by the Federal Republic of Germany.
Pricing came at SOFR mid-swaps plus 40 basis points, or at Treasuries plus 13.9 bps. Initial talk was in the SOFR mid-swaps plus 42 bps area.
BofA Securities, Citigroup and RBC Capital Markets are the managers for the offering.
The notes will be listed on the Luxembourg Stock Exchange.
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: | Global notes
|
| Maturity: | Feb. 15, 2028
|
| Managers: | BofA Securities, Citigroup and RBC Capital Markets
|
| Coupon: | 3.75%
|
| Price: | 99.531
|
| Spread: | SOFR mid-swaps plus 40 bps, or Treasuries plus 13.9 bps
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 18
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Distribution: | SEC registered
|
| Price talk: | SOFR mid-swaps plus 42 bps area
|
| Cusip: | 500769JW5
|
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