KfW gears up to sell $2 billion global green bonds; size will not grow

Chicago, Feb. 20 – KfW (Kreditanstalt fuer Wiederaufbau) is in the market with $2 billion of global green bonds due Feb. 28, 2034 (Aaa/AAA/AAA), according to a market source.

Initial price talk is in the SOFR mid-swaps plus 53 basis points area, or Treasuries plus 18.2 bps area.

BNP Paribas Securities Corp., Nomura and RBC Capital Markets Corp. will be the bookrunners.

Proceeds will be used to fund loans to further energy-efficient homes and buildings, sustainable transportation, the use of renewable energies, the investment in selected climate-friendly activities by companies and the protection of biodiversity.

The global bonds will be registered with the Securities and Exchange Commission.

Settlement for the bonds (ISIN: US500769KD52) is expected Feb. 28.

The deal is expected to price as Wednesday business.

KfW is a government-backed bank based in Frankfurt.

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