KfW re-opens five year euro SSA market as Baden-Württemberg prints green debut

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By Burhan Khadbai
02 Mar 2021

KfW rebooted the short end of the euro public sector bond market on Tuesday with a well subscribed trade which offered a modest new issue premium. The deal shared the euro SSA market with the State of Baden-Württemberg’s debut green bond.

Leads Barclays, BNP Paribas, Commerzbank and Goldman Sachs opened the books on KfW’s new June 2026 euro benchmark with guidance of mid-swaps minus 9bp area.

As the order book reached over €13.5bn, the leads set the spread at minus 11bp. The deal was later ...

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