By Aleesia Forni
Virginia Beach, March 26 – KfW priced $5 billion of 1.5% five-year global notes (Aaa/AAA/) at mid-swaps minus 1 basis point on Thursday, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes were guided in the mid-swaps flat area.
Pricing was at 99.613 with a spread of 14.15 bps over Treasuries.
The bookrunners were BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. LLC.
The German government-owned development bank is based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $5 billion
|
| Description: | Global notes
|
| Maturity: | April 20, 2020
|
| Managers: | BofA Merrill Lynch, Goldman Sachs, Morgan Stanley
|
| Coupon: | 1.5%
|
| Price: | 99.613
|
| Spread: | Mid-swaps minus 1 bp, Treasuries plus 14.15 bps
|
| Trade date: | March 26
|
| Settlement date: | April 2
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps flat
|
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