New Issue: KfW prices $6 billion of 1.125% notes due 2018 at mid-swaps plus 1 bp

By Aleesia Forni

Virginia Beach, July 8 – KfW priced $6 billion of notes due Aug. 6, 2018 at mid-swaps plus 1 basis point on Wednesday, a market source said.

The notes (Aaa/AAA) sold at the tight end of talk set in the mid-swaps plus 2 bps area.

BofA Merrill Lynch, HSBC Securities and Morgan Stanley & Co. LLC were the bookrunners.

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

Issuer:	KfW
Amount:	$6 billion
Description:	Notes
Maturity:	Aug. 6, 2018
Bookrunners:	BofA Merrill Lynch, HSBC Securities, Morgan Stanley & Co. LLC
Coupon:	1.125%
Spread:	Mid-swaps plus 1 bp
Trade date:	July 8
Ratings:	Moody’s: Aaa
	Standard & Poor’s: AAA
Price guidance:	Mid-swaps plus 2 bps area

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