By Marisa Wong and Cristal Cody
Los Angeles, April 4 – KfW (Aaa/AAA/Scope: AAA) priced $3 billion of 3.625% global notes due April 1, 2026 at 99.706, according to an FWP filing with the Securities and Exchange Commission.
The bonds are guaranteed by the Federal Republic of Germany.
Deutsche Bank, HSBC and J.P. Morgan SE are the managers.
A source noted that the global bonds were being talked in the SOFR mid-swaps plus 22 basis points area. The bonds priced at SOFR mid-swaps plus 20 bps, or Treasuries plus 9.8 bps.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $3 billion
|
| Description: | Global notes
|
| Maturity: | April 1, 2026
|
| Managers: | Deutsche Bank, HSBC and J.P. Morgan SE
|
| Paying agent: | Citibank NA, London Branch
|
| Additional paying agent: | Citibank Europe plc, Frankfurt Branch
|
| Coupon: | 3.625%
|
| Price: | 99.706
|
| Spread: | SOFR mid-swaps plus 20 bps, or Treasuries plus 9.8 bps
|
| Pricing date: | April 4
|
| Settlement date: | April 13
|
| Listing: | Luxembourg
|
| Issuer ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Distribution: | SEC registered
|
| Price talk: | SOFR mid-swaps plus 22 bps area
|
| Cusip: | 500769JX3
|
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