By Aleesia Forni
Virginia Beach, Nov. 10 – KfW sold $1 billion of 1.875% five-year global notes (Aaa/AAA/AAA) at mid-swaps plus 25 basis points on Tuesday, according to a market source and an FWP filed with the Securities and Exchange Commission.
Pricing was at 99.79 with a spread of 20.75 bps over Treasuries.
The issue sold at the tight end of the mid-swaps plus 27 bps area talk.
The bookrunners are BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. LLC.
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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Amount: | $1 billion
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Description: | Global notes
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Maturity: | Nov. 30, 2020
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Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC
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Coupon: | 1.875%
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Price: | 99.79
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Spread: | Mid-swaps plus 25 bps, Treasuries plus 20.75 bps
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Trade date: | Nov. 10
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Settlement date: | Nov. 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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Distribution: | SEC registered
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Price guidance: | Mid-swaps plus 27 bps area
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