By Marisa Wong and Cristal Cody
Los Angeles, May 24 – KfW (Aaa/AAA/AAA) priced $4 billion of 3.875% global notes due June 15, 2028 at 99.903 on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at Treasuries plus 13.4 basis points, or at SOFR mid-swaps plus 34 bps.
Initial price talk was in the SOFR mid-swaps plus 36 bps area, according to a market source.
BMO Capital Markets Corp., Citigroup Global Markets Inc. and Goldman Sachs Bank Europe SE are the managers for the SEC-registered offering.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Amount: | $4 billion
|
| Issue: | Global notes
|
| Maturity: | June 15, 2028
|
| Managers: | BMO Capital Markets Corp., Citigroup Global Markets Inc. and Goldman Sachs Bank Europe SE
|
| Paying agent: | Bank of New York Mellon
|
| Coupon: | 3.875%
|
| Price: | 99.903
|
| Spread: | Treasuries plus 13.4 bps, or SOFR mid-swaps plus 34 bps
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Issuer ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Distribution: | SEC registered
|
| Initial price talk: | SOFR mid-swaps plus 36 bps area
|
| Listing: | Luxembourg
|
| Cusip: | D4S46MLM5
|
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