Das könnte Sie auch interessieren:

Zwischen Lob und Selbstzweifel: die "Dancing on Ice"-Promis vor ihrer zweiten Kür auf dem Eis - am Sonntag live in SAT.1

Unterföhring (ots) - Bezaubernde Kür oder große Rutschpartie? Sieben Prominente wagen ihren zweiten Tanz auf ...

Premiere bei AIDA: Erstanlauf in Kapstadt mit AIDAaura / AIDA erweitert ab Dezember 2019 Programm mit 14-tägiger Route "Südafrika & Namibia" mit AIDAmira

Rostock (ots) - Am Morgen des 11. Januar 2019 erreichte AIDAaura den Hafen von Kapstadt. Als erstes Schiff der ...

Neuer Opel Zafira Life: So clever kann groß sein

Rüsselsheim (ots) - - In neuer Dimension: Die nächste Generation des Großraum-Pkw fährt vor - In ...

20.06.2008 – 11:18


KfW reopens 3-year USD Global market

Frankfurt (ots)

KfW took advantage of a very positive issuance environment in the USD market ahead of next week's FOMC meeting in launching its second USD 3-year Global bond in 2008. The issuance of six KfW USD benchmark transactions in 2008 so far proves KfW's outstanding position in the USD bonds market.

The USD 3 bn issue with a settlement on June 26th 2008 matures on June 27th 2011. With a coupon of 3.75% and a reoffer price of 99.755% it yields 3.837% s.a. This corresponds to a yield pick-up of 92.5 basis points over the current 2-year US Treasury maturing in May 2010. The bond will have an AAA/Aaa/AAA rating from Fitch Ratings, Moody's and Standard & Poor's. The transaction was lead managed by Credit Suisse, HSBC and RBC Capital Markets. Co-Lead Managers were Barclays Capital, BNP Paribas, Citi, Lehman Brothers, Merrill Lynch, Mitsubishi UFJ, Morgan Stanley, Nomura, and RBS.

"The very strong demand in this transaction underlines the very positive tone in the USD markets", stated Frank Czichowski, Treasurer of KfW, and added: "After announcing the transaction on Wednesday at 9:00 a. m. London Time tremendous interest was gathered and the orderbook built well in excess of USD 4 bn. Re-offered at Mid Swaps -28bps proved to be a historically tight level for KfW and underlined the strong investor interest in KfW securities."

The breakdown of the order book by sectors is as follows:

Breakdown by investor type:

   Central Banks:   66% 
   Funds:           26% 
   Banks:            4% 
   Corporates:       1% 
   Others:           3% 

Geographical Breakdown:

   Europe:          35% 
   Americas:        39% 
   Asia:            19% 
   Middle East:      4% 
   Others:           3% 

KfW has announced refinancing needs of around EUR 70 bn for 2008. The Benchmark Programmes will again account for the main share of the funds raised. Since the start of the year KfW has already issued EUR 10 bn in two transactions under its EUR benchmark programme as well as USD 18 bn in six transactions under its USD Global programme.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. KfW has registered the securities that are the subject of this press release for sale in the United States. The offering of the securities in the United States will be made by means of a prospectus that may be obtained from KfW and will contain detailed information about KfW and its management, financial statements and information about the Federal Republic of Germany.

   Term Sheet KfW USD Vl/2008 
   USD 3 bn - 3.75% - 2008/2011 
   Issuer:                KfW (Kreditanstalt für Wiederaufbau) 
   Guarantor:             Federal Republic of Germany 
   Rating:                AAA (Fitch Ratings)/Aaa (Moody's)/AAA 
                          (Standard & Poor's) 
   Size:                  USD 
   Maturity Date:         26th June 2008 - 27th June 2011 
   Coupon:                3.75% p.a., semi-annual coupon, long first 
   Payment Dates:         27th December and June, first coupon 27th 
                          December, 2008 
   Re-offer-Price:        99.755% 
   Yield:                 3.837% semi-annually 
   Format:                Global 
   Stock Market Listing:  Luxembourg 
   Lead Managers (3):     Credit Suisse       
                          Royal Bank of Canada 
   Co-Lead Managers (10): Barclays Capital       
                          BNP Paribas       
                          Merrill Lynch
                          Morgan Stanley       
                          Mitsubishi UFG
                          Morgan Stanley
                          Royal Bank of Scotland  


Nathalie Drücke
Tel: 069 7431-2098
E-Mail: nathalie.druecke@kfw.de

KfW, Palmengartenstraße 5-9,
60325 Frankfurt
Kommunikation (KOM)
Tel. 069 7431-4400,
Fax: 069 7431-3266,
E-Mail: presse@kfw.de,
Internet: www.kfw.de

Original-Content von: KfW, übermittelt durch news aktuell

Alle Meldungen
Abonnieren Sie alle Meldungen von KfW
  • Druckversion
  • PDF-Version

Themen in dieser Meldung