KfW ‘scrapes through’ with tight price on €STR debut

Euro fire FA 230
By Lewis McLellan
14 Nov 2019

KfW’s first €STR bond hit the market on Wednesday. Although the German agency managed a tighter price than EIB’s first note in the format, it was not able to drum up the same level of demand.

KfW printed €1bn of three year Reg S paper at a spread of 10bp over €STR. Crédit AgricoleDeutsche Bank and UniCredit ran the books.

The final book was €1.4bn, with €300m of orders from joint lead managers.

A head of SSA DCM away from the trade was not ...

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