By Cristal Cody
Tupelo, Miss., July 3 – KfW (Aaa/AAA//Scope: AAA) priced a $4 billion offering of 1.75% three-year guaranteed global notes on Wednesday at 99.949 and a spread of mid-swaps plus 6 basis points, or Treasuries plus 6.9 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes due Aug. 22, 2022 were initially talked to price in the mid-swaps plus 7 bps area.
Barclays, Morgan Stanley & Co. LLC and RBC Capital Markets LLC were the lead managers.
KfW is a German 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: | Aug. 22, 2022
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| Bookrunners: | Barclays, Morgan Stanley & Co. LLC and RBC Capital Markets LLC
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| Coupon: | 1.75%
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| Price: | 99.949
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| Spread: | Mid-swaps plus 6 bps, or Treasuries plus 6.9 bps
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| Trade date: | July 3
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| Settlement date: | July 11
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Scope: AAA
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| Distribution: | SEC registered
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| Price talk: | Mid-swaps plus 7 bps area
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