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KFW opens books on 5-year USD syndicate....>

ISSUANCE
ISSUANCE: KFW opens books on 5-year USD syndicate deal at USD mid-swaps +5bp
area, source close to the deal tells MNI:
Issuer: KfW
Guarantor: Federal Republic of Germany
Rating: Aaa (Moody's), AAA (S&P), AAA (Scope) (all stable)
Size: USD 1bn
Settlement (T+5): 08-Aug-17
Maturity: 15-Sep-21
Coupon: Fixed S.A.; 30/360, long first to 15-Mar-18
Guidance: $MS+5 area
Joint Bookrunners: BNPP / Citi / Morgan Stanley
Timing: Books open, today's business, IoIs over $600m

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