KfW sets note spread at swaps minus 4 bps, books over $4.5 billion

By Devika Patel

Knoxville, Tenn., Aug. 23 – KfW set the spread for its offering of benchmark dollar-denominated senior notes (Aaa/AAA/AAA) due Sept. 9, 2019 at mid-swaps minus 4 basis points, according to a market source.

Demand is over $4.5 billion.

The books were set to close at 8:45 a.m. ET and pricing is expected on Wednesday. The deal was announced Tuesday.

The notes will be guaranteed by the Federal Republic of Germany.

BofA Merrill Lynch, BNP Paribas Securities Corp. and J.P. Morgan Securities LLC are the bookrunners.

KfW is a Frankfurt-based government-backed bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.