Euro borrowers look to long end

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By Lewis McLellan
30 Jul 2020

KfW tapped an October 2034 line on Tuesday, enjoying impressive demand for the €1bn trade after the strong performance of the Bund curve sent investors hunting for yield.

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

The final book was more than €2.5bn. “You see some taps that just get the book ...

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