New Issue: Germany's KfW sells $3 billion 2.75% seven-year notes at mid-swaps plus 23 bps

By Aleesia Forni

Virginia Beach, Va., Sept. 10 - KfW sold $3 billion of 2.75% notes due Oct. 1, 2020 (Aaa/AAA/AAA) on Tuesday at mid-swaps plus 23 basis points, according to an informed source.

Pricing was at 99.752 to yield 2.789%.

The bookrunners were Deutsche Bank Securities Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC.

The German government-owned development bank is based in Frankfurt.

Issuer:	KfW
Amount:	$3 billion
Description:	Notes
Maturity:	Oct. 1, 2020
Bookrunners:	Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC
Coupon:	2.75%
Price:	99.752
Yield:	2.789%
Spread:	Mid-swaps plus 23 bps
Trade date:	Sept. 10
Settlement date:	Sept. 17
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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