By Andrea Heisinger
New York, Sept. 26 - KfW sold $3 billion of 2% 10-year global notes on Wednesday to yield mid-swaps plus 43 basis points, or Treasuries plus 48.2 bps, an informed source said.
The notes (Aaa/AAA/AAA) were announced on Tuesday at a minimum size of $500 million. Pricing was in line with guidance in the mid-swaps plus 43 bps area.
The bonds were sold at 98.977 with a yield of 2.114%. There is no call option.
Bookrunners were Barclays, BNP Paribas Securities Corp. and UBS Securities LLC.
The notes from the Frankfurt-based development bank are guaranteed by the Republic of Germany.
| Issuer: | KfW
|
| Issue: | Global notes
|
| Guarantor: | Republic of Germany
|
| Amount: | $3 billion
|
| Maturity: | Oct. 4, 2022
|
| Bookrunners: | Barclays, BNP Paribas Securities Corp., UBS Securities LLC
|
| Coupon: | 2%
|
| Price: | 98.977
|
| Yield: | 2.114%
|
| Spread: | Mid-swaps plus 43 bps, Treasuries plus 48.2 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 26
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 43 bps area
|
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