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Commentary & Deal Flow

SSA NEW ISSUE: KfW US$ Bnchmrk 5y Notes Pxng Weds; SOFR MS+32 area

IGC European Market: Deal Flow - SSAIGC US Market: Deal Flow - SSA

KfW (KFW) exp Aaa/AAA/AAA (Moody's/S&P/Scope - s/s/s) US$ benchmark SEC Registered Global 5y FXD notes due 10/10/31. gtd by Federal Republic of Germany. CIBC/GS/JPM/MS joint active books. Denoms: 1,000 x 1,000. Listing: Luxembourg Stock Exchange's regulated market. Taking IOIs, pricing expected 09/09. Settle 09/16 (T+5).
IPTs: SOFR MS+32 area (currently equates to ~CT5+6.2).