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KfW launches $5 billion three-year notes at mid-swaps plus 5 bps
By Cristal Cody
Tupelo, Miss., Jan. 14 – KfW (Aaa/AAA/AAA) launched a $5 billion offering of global notes due Feb. 15, 2023 on Tuesday at mid-swaps plus 5 basis points, according to a market source.
The notes were initially talked to price with a spread in the mid-swaps plus 7 bps area.
BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are the lead managers.
KfW is a government-backed bank based in Frankfurt.
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