KfW smashes dollar return with over $15bn of demand

By Burhan Khadbai
07 Jul 2020

Investors piled into KfW’s first dollar benchmark in six months on Tuesday, allowing the issuer to break the order book record for SSA dollar benchmarks.

KfW raised $5bn at a spread of mid-swaps plus 13bp for a July 2025 benchmark with a final book of over $15.4bn via Bank of America, RBC Capital Markets and TD Securities. The book is the largest ever order book for an SSA dollar benchmark.

Tim ...

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