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KfW launches second Global of its USD-Programme in 2009

04.02.2009
Frankfurt (ots) - KfW launched its second USD Global in 2009 on Tuesday evening. The issue has a maturity of two years, a volume of 2 bn USD and was sold to over 70 institutional investors worldwide.

The USD II/2009 with a settlement on February 10th 2009 matures on March 15th 2011. With a coupon of 1.875% and a reoffer price of 99.886% it yields 1.931% s.a. This corresponds to a yield pick-up of 100.75 basis points over the current 2-year US Treasury maturing in January 2011.

The bond will have an AAA/Aaa/AAA rating from Fitch Ratings, Moody's and Standard & Poor's. The transaction was lead managed by Goldman Sachs, Merrill Lynch and Royal Bank of Canada CM.

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

Breakdown by investor type:
Central Banks: 50 %
Banks: 31 %
Funds: 18 %
Others: 1 %
Geographical Breakdown:
Americas: 33 %
Europe: 30 %
Asia: 28 %
Middle East: 3 %
Others: 6 %
KfW has announced refinancing needs of EUR 75 bn for 2009. The Benchmark Programmes in EUR and USD will presumably again account for the main share of the funds raised.
Term Sheet KfW USD Il/2009
USD 2 bn - 1.875% - 2009/2011
Issuer: KfW (Kreditanstalt für Wiederaufbau)
Guarantor: Federal Republic of Germany
Rating: AAA (Fitch Ratings)/Aaa (Moody's)/AAA (Standard & Poor's)
Size: USD 2.000.000.000
Maturity Date: 10th February 2009 - 15th March 2011
Coupon: 1.875% p.a., semi-annual coupon, short first coupon Payment
Dates: 15th March and September, first coupon 15th March, 2009
Re-offer-Price: 99.886%
Yield: 1.931% semi-annually
Format: Global
Stock Market Listing: Luxembourg
Lead Managers (3):
Goldman Sachs
Merrill Lynch Royal
Bank of Canada CM
Co-Lead Managers (10):
Barclays Capital
BNP Paribas
Citi
Credit Suisse
HSBC
JP Morgan
Morgan Stanley
Nomura
Royal Bank of Scotland
UBS
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.

Nathalie Drücke | presseportal
Further information:
http://www.kfw.de

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