By Cristal Cody
Tupelo, Miss., Feb. 20 – KfW (Aaa/AAA/Scope: AAA) sold $5 billion of 2.5% three-year global notes on Wednesday at 99.802 to yield a spread of mid-swaps plus 2 basis points, or Treasuries plus 11.1 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were guided to print in the mid-swaps plus 3 bps area with initial price talk in the mid-swaps plus 4 bps area.
Citigroup Global Markets Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC were the lead managers.
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. 15, 2022
|
| Bookrunners: | Citigroup Global Markets Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC
|
| Coupon: | 2.5%
|
| Price: | 99.802
|
| Spread: | Mid-swaps plus 2 bps, or Treasuries plus 11.1 bps
|
| Trade date: | Feb. 20
|
| Settlement date: | Feb. 27
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Scope: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 3 bps area; initial talk at mid-swaps plus 4 bps area
|
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