KfW hits the spot in 10 year dollars

KfW’s $3bn 10 year global bond has successfully opened a sector closed since the onset of the credit crunch in June 2007. Pricing of mid-swaps less 13bp looked a little generous say some, necessary say others, but obviously attractive since the deal attracted a book of over $4bn. In another busy week of fundraising, the borrower also tapped the global yen market with a ¥100bn three year. Read EuroWeek on Friday for the ins and outs of the deal.