By Cristal Cody
Tupelo, Miss., Sept. 12 – KfW (Aaa/AAA/AAA) priced a $1.5 billion add-on to its 2.75% global notes due Oct. 1, 2020 on Tuesday at 99.74 and a spread of mid-swaps minus 5 basis points, or Treasuries plus 14.15 bps, according to additional details from a market source.
The notes priced in line with guidance.
BMO Capital Markets Corp., Citigroup Global Markets Ltd. and J.P. Morgan Securities plc were the lead managers.
KfW previously issued $3 billion of the notes on Sept. 17, 2013. The issue now has a total outstanding of $4.5 billion.
The government-backed bank is based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $1.5 billion reopening
|
| Description: | Global notes
|
| Maturity: | Oct. 1, 2020
|
| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Ltd. and J.P. Morgan Securities plc
|
| Coupon: | 2.75%
|
| Price: | 99.74
|
| Spread: | Mid-swaps minus 5 bps, or Treasuries plus 14.15 bps
|
| Trade date: | Sept. 11
|
| Settlement date: | Sept. 18
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps minus 5 bps area
|
| Total outstanding: | $4.5 billion, including $3 billion of notes issued Sept. 17, 2013
|
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