Strong Bund performance boosts appetite for KfW

By Lewis McLellan
28 Jul 2020

KfW tapped an October 2034 line on Tuesday, enjoying impressive demand for the €1bn trade thanks, in part, to the strong performance of the Bund curve sending investors hunting for yield.

Barclays, Deutsche Bank and Goldman Sachs ran the books for the deal, pricing the deal at 3bp through mid-swaps in line with guidance. The deal came at a reoffer yield of minus 13.6bp.

The final book was over €2.5bn. “You see some taps that just ...

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