Chicago, Sept. 26 – KfW (Aaa/AAA/AAA) priced €3 billion of 3.25% green bonds due March 2031, according to a market source regarding the Tuesday-pricing deal.
The bonds priced at 99.882 to yield 3.27%, or at mid-swaps minus 2 basis points. Alternatively, the bonds priced at Bunds plus 60.2 bps.
Guidance was in the mid-swaps minus 1 bp area.
Germany will guarantee the bonds.
BNP Paribas (billing and delivery), Credit Agricole CIB, DZ Bank and Nomura were lead managers for the Regulation S deal.
The order book was over €4 billion.
Proceeds will be used to finance new eligible green projects.
KfW is a German government-backed bank based in Frankfurt.
| Issuer: | Kreditanstalt fur Wiederaufbau (KfW)
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| Guarantor: | Germany
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| Amount: | €3 billion
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| Issue: | Green bonds
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| Maturity: | March 24, 2031
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| Bookrunners: | BNP Paribas, Credit Agricole CIB, DZ Bank and Nomura
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| Coupon: | 3.25%
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| Price: | 99.882
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| Yield: | 3.27%
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| Spread: | Mid-swaps minus 2 bps, of Bunds plus 60.2 bps
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| Trade date: | Sept. 26
|
| Settlement date: | Oct. 4
|
| Distribution: | Regulation S
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| Price talk: | Mid-swaps minus 1 bp area
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| ISIN: | XS2698047771
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