By Cristal Cody
Tupelo, Miss., Aug. 1 – KfW (Aaa/AAA) sold $1 billion of 1.75% global notes due Sept. 15, 2021 on Tuesday at 99.551 and a spread of mid-swaps plus 5 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were initially talked to price at mid-swaps plus 5 bps.
BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The notes will be guaranteed by the Federal Republic of Germany.
KfW is a Frankfurt-based government-backed bank.
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: | Sept. 15, 2021
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Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
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Coupon: | 1.75%
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Price: | 99.551
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Spread: | Mid-swaps plus 5 bps
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Trade date: | Aug. 1
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Settlement date: | Aug. 8
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Ratings: | Moody’s: Aaa
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| S&P: AAA
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Distribution: | SEC registered
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Price talk: | Mid-swaps plus 5 bps
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