New Issue: KfW sells $3 billion 2.625% 10-year notes at mid-swaps plus 55 bps

By Andrea Heisinger

New York, Jan. 19 - KfW priced $3 billion of 2.625% 10-year global notes on Thursday at mid-swaps plus 55 basis points, according to an FWP filing with the Securities and Exchange Commission and a market source.

The debt sold in line with guidance in the mid-swaps plus 55 bps area.

The notes (Aaa/AAA/AAA) were priced at 99.895 and are non-callable.

Bookrunners were Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co.

Co-managers were Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Daiwa Capital Markets Europe, FTN Financial Securities Corp., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, RBS Securities Inc. and UBS Securities LLC.

The German government owned development bank is based in Frankfurt.

Issuer:	KfW
Issue:	Global notes
Amount:	$3 billion
Maturity:	Jan. 25, 2022
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co.
Co-managers:	Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Daiwa Capital Markets Europe, FTN Financial Securities Corp., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, RBS Securities Inc., UBS Securities LLC
Coupon:	2.625%
Price:	99.895
Spread:	Mid-swaps plus 55 bps
Call:	Non-callable
Distribution:	Off shelf
Trade date:	Jan. 19
Settlement date:	Jan. 25
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Price talk:	Mid-swaps plus 55 bps area

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