By Cristal Cody
Tupelo, Miss., June 6 – KfW (Aaa/AAA//Scope: AAA) priced $4 billion of 2.75% two-year global notes on Wednesday at 99.982 and a spread of mid-swaps minus 3 basis points, or Treasuries plus 23.8 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were initially talked to price with a spread in the mid-swaps minus 2 bps area.
Barclays, HSBC Securities (USA) Inc. and RBC Capital Markets, LLC were the lead managers.
KfW is a government-backed bank based in Frankfurt.
| Issuer: | KfW
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| Guarantor: | Federal Republic of Germany
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| Amount: | $4 billion
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| Description: | Global notes
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| Maturity: | July 15, 2020
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| Bookrunners: | Barclays, HSBC Securities (USA) Inc. and RBC Capital Markets, LLC
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| Coupon: | 2.75%
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| Price: | 99.982
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| Spread: | Mid-swaps minus 3 bps, or Treasuries plus 23.8 bps
|
| Trade date: | June 6
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| Settlement date: | June 13
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| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
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| Distribution: | SEC registered
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| Price talk: | Mid-swaps minus 2 bps area
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