By Cristal Cody
Eureka Springs, Ark., Nov. 22 – KfW (Aaa/AAA) sold an upsized $1.5 billion of 2% five-year global notes at 99.749 and a spread of Treasuries plus 28.4 basis points on Tuesday, according to a market source and an FWP filing with the Securities and Exchange Commission.
The green bonds were talked to price in the mid-swaps plus 31 bps area.
The deal was upsized from $1 billion.
BofA Merrill Lynch, Goldman Sachs International and Societe Generale were the bookrunners.
The notes are guaranteed by the Federal Republic of Germany.
Proceeds will be used for general business purposes. KfW plans to allocate an amount equal to the net proceeds to an internal account used to track allocation of funds from its green bond issuances.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $1.5 billion
|
| Maturity: | Nov. 30, 2021
|
| Securities: | Global notes
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs International, Societe Generale
|
| Coupon: | 2%
|
| Price: | 99.749
|
| Spread: | Treasuries plus 28.4 bps
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 30
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | SEC registered
|
| Listing: | Luxembourg Stock Exchange
|
| Price guidance: | Mid-swaps plus 31 bps area
|
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