KfW

KfW´s third EUR-Benchmark-bond is in the markets
Order books heavily oversubscribed with more than EUR 9 billion

Frankfurt am Main (ots) - KfW today issued its third bond under its EUR-benchmark programme. The bond has a volume of EUR 5 billion and will mature on November 26th, 2004. Just as its predecessors, the 10 year bond issued in March and the 5 year bond issued in July 2001, the issued 3 year bond is substantially oversubscribed. Orders for more than EUR 9 billion have been received. The spread of the bond is of 16 bp over the Bundesobligation 133, whose maturity matches that of KfW's bond. All terms of the issue are listed in the attachment to this release. "Our EUR-Benchmark-bonds, offering highest credit quality and liquidity as well as a yield pickup, obviously meet the interests and expectations of the investors. We are very pleased with this renewed success", says Gerhard Lewark, the Treasurer of KfW. Lewark draws positive conclusions especially with a view to the good response by the markets of all EUR-Benchmark bonds issued this year: "We started this programme only at the beginning of this year. The underlying concept of positioning ourselves as a surrogate to sovereign issuers in the medium term clearly adds up. This, of course, is particularly pleasing and motivates us to continue the programme in the next year". With its EUR-benchmark programme, KfW has been able to build up a complete yield curve within just a few months. It offers its investors highly liquid bonds with the highest possible credit quality in the maturities of 3, 5 and 10 years. With today´s bond, KfW concludes its EUR-Benchmark programme for this year. The bank´s total funding volume as per mid October 2001 is of approximately EUR 35 billion. By means of the EUR-benchmark programme alone the bank has issued bonds worth EUR 15 billion, which corresponds to 43 % of the total funding volume of 2001. KfW has also funded its activities with issues in US-Dollar worth roughly EUR 13 and in British Pounds worth approximately EUR 3 billion. The EUR-benchmark programme has developed into a major pillar of KfW´s funding activities. KfW is among the largest issuers in Europe and will continue its programme next year by issuing EUR-benchmark bonds with a total volume of at least EUR 15 billion. Term Sheet EUR 5 Billion KfW Benchmark Bond 2001/2004 Issuer: KfW (Kreditanstalt für Wiederaufbau) Guarantor: Federal Republic of Germany Rating: Aaa (Moody's) / AAA (Standard & Poor's) Size: EUR 5,000,000,000 Issue Date: October 16th, 2001 Maturity Date: November 26th, 2004 Coupon: 3,75 % Coupon Payment Date: November 26th, annual coupon, first long coupon Re-offer-price: 99,867 Yield: 3,794 % p.a. WKN: 276 086 Format: Global Stock Market Listing: Frankfurt EuroMTS Trading: yes Lead Managers (3): Deutsche Bank JP Morgan Merrill Lynch International Co-Lead Managers (12): Barclays Capital BNP Paribas Credit Suisse First Boston Dresdner Kleinwort Wasserstein Goldman Sachs HSBC Trinkaus & Burkhardt HypoVereinsbank Lehman Brothers Morgan Stanley Nomura Schroder SalomonSmithBarney UBS Warburg ots Originaltext: KfW Im Internet recherchierbar: http://www.presseportal.de Kreditanstalt für Wiederaufbau Palmengartenstr. 5-9 60325 Frankfurt Abt. Unternehmenskommunikation Verantwortlich: Dr. Matthias Fritton Press Dept: Nathalie Drücke, Dela Strumpf, Verena Tobeck, Christine Volk, Phone: (069) 7431 -4400 Fax: (069) 7431 -3266 presse@kfw.de www.kfw.de For further information please adress any queries to: Nathalie Drücke Tel.: (069) 7431 -2098 E-Mail: nathalie.druecke@kfw.de Original-Content von: KfW, übermittelt durch news aktuell

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