By Cristal Cody
Tupelo, Miss., Jan. 15 – KfW (Aaa/AAA/AAA) priced $5 billion of 2.625% five-year global notes on Tuesday at 99.667 and a spread of mid-swaps plus 9 basis points, or 17.3 bps over Treasuries, 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 plus 11 bps area, with guidance later tightened to the 10 bps area.
Barclays, BMO Capital Markets Corp. and Citigroup Global Markets Inc. were the bookrunners.
KfW is a German government-backed bank based in Frankfurt.
| Issuer: | KfW
|
| Guarantor: | Federal Republic of Germany
|
| Amount: | $5 billion
|
| Description: | Global notes
|
| Maturity: | Feb. 28, 2024
|
| Bookrunners: | Barclays, BMO Capital Markets Corp. and Citigroup Global Markets Inc.
|
| Coupon: | 2.625%
|
| Price: | 99.667
|
| Spread: | Mid-swaps plus 9 bps, or Treasuries plus 17.3 bps
|
| Trade date: | Jan. 15
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 10 bps area; initial talk at mid-swaps plus 11 bps area
|
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