August 23, 2017 / 7:11 AM / a year ago

UPDATE 3-KfW 2yr books top US$4.5bn

(Updates book, timing)

By Julian Baker

LONDON, Aug 23 (IFR) -

* Books now USD4.5bn+ ahead of closing at 1:45pm. JPM is B&D and DM. (12:55pm)

* Books at USD4bn+, spread set at MS-4. (11:15am)

* Guidance unchanged from IPTs at MS-4 area. Books open, pricing today. (8:09am)

* IPTs MS-4 area. Pricing Wednesday. Due 9 Sep 2019, pay 30 Aug, long first coupon to 9 Mar 2018, SEC registered, Lux listing, 1k/1k denoms. (Aug 22)

KfW, rated Aaa/AAA/AAA (all stable; Moody’s/Scope/S&P) and guaranteed by the FEDERAL REPUBLIC OF GERMANY has mandated BofAML, BNPP, and JPM to lead manage its upcoming 2-year SEC Registered USD Global benchmark transaction. The issue is expected to be launched in the near future subject to market conditions. FCA/ICMA stabilisation. (Aug 22) (Reporting by Julian Baker)

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