By Andrea Heisinger
New York, March 11 - Germany's KfW on Monday priced $1 billion of 0.375% two-year notes to yield mid-swaps minus 3 basis points, a market source said.
Pricing was in line with guidance in the mid-swaps minus 3 bps area.
The notes (Aaa/AAA/AAA) were sold at 99.98.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Nomura Securities International Inc. were the bookrunners.
The notes are guaranteed by the Federal Republic of Germany.
The German government-owned development bank is based in Frankfurt.
Issuer: | KfW
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Guarantor: | Federal Republic of Germany
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Issue: | Notes
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Amount: | $1 billion
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Maturity: | May 15, 2015
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Bookrunners: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Nomura Securities International Inc.
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Coupon: | 0.375%
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Price: | 99.98
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Spread: | Mid-swaps minus 3 bps
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Call: | Non-callable
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Trade date: | March 11
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Settlement date: | March 18
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Ratings: | Moody's: Aaa
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| Standard & Poor's: AAA
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| Fitch: AAA
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Price talk: | Mid-swaps minus 3 bps area
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