By Cristal Cody
Tupelo, Miss., May 25 – KfW priced $5 billion of 1.625% three-year global notes (Aaa/AAA) on Tuesday at 99.849 and a spread of Treasuries plus 21.7 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The benchmark dollar notes were talked to price at the mid-swaps plus 15 bps area.
BofA Merrill Lynch, Nomura Securities International, Inc. and RBC Capital Markets, LLC were the lead managers.
The notes are guaranteed by the Federal Republic of Germany.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $5 billion
|
| Description: | Global notes
|
| Maturity: | May 29, 2020
|
| Bookrunners: | BofA Merrill Lynch, Nomura Securities International, Inc. and RBC Capital Markets, LLC
|
| Coupon: | 1.625%
|
| Price: | 99.849
|
| Spread: | Treasuries plus 21.7 bps
|
| Trade date: | May 23
|
| Settlement date: | May 31
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 15 bps area
|
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