After its overwhelming 3- and 10-year transactions in January, KfW is the only issuer who has launched in all benchmark maturities so far, bringing its total funding under the USD programme to USD 11 billion year to date. For the remainder of the year, KfW envisages at least two more USD global issues under the programme.
For 2010 KfW had announced the need to raise a funding volume of EUR 70-75 billion. So far this year approximately EUR 20.8 billion (27.7%) have been raised in 14 different currencies. 62% of this amount were refinanced under the KfW Benchmark Programmes in EUR and USD, whereas the remaining 38% were funded through other public transactions (32%) and private placements (6%) respectively. "With its three USD global issues, KfW starts off on the right foot in the first two months. The strong international demand - 44% coming from Asia - for our USD globals and for our first-class rating is unbroken", Dr. Günther Bräunig, member of the Managing Board of KfW Bankengruppe commented. "This transaction leaves the market in great shape for further KfW dollar issuance later this year", added Bräunig.
The USD 3 billion issue matures on March 3rd 2015 with a coupon of 2.625% paid semi-annually. The reoffer price was set at 99.526%, corresponding to a yield pick-up of 40 basis points over the current US Treasury, maturing in January 2015. In line with all KfW bonds, this issue has an AAA/Aaa/AAA rating from Fitch Ratings, Moody's and Standard & Poor's. Lead manager of the transaction are Citi, Deutsche Bank and Royal Bank of Canada CM; Co-Lead Managers are Bank of America / Merrill Lynch, Barclays, BNP Paribas, DZ Bank, Goldman Sachs, HSBC, Mitsubishi UFG, Morgan Stanley, Nomura and Royal Bank of Scotland.
Books were opened on Tuesday New York morning and built quickly, reaching USD 1.5 billion in two hours. From the start there was continuous broad based demand from high quality investors out of the US-time zone. The final order book was well oversubscribed with 94 orders totalling over USD 4.4 billion and of extremely high quality.
The breakdown of the order book by sectors is as follows:
Breakdown by investor type:
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
Engineers at the University of Tokyo continually pioneer new ways to improve battery technology. Professor Atsuo Yamada and his team recently developed a...
With a quantum coprocessor in the cloud, physicists from Innsbruck, Austria, open the door to the simulation of previously unsolvable problems in chemistry, materials research or high-energy physics. The research groups led by Rainer Blatt and Peter Zoller report in the journal Nature how they simulated particle physics phenomena on 20 quantum bits and how the quantum simulator self-verified the result for the first time.
Many scientists are currently working on investigating how quantum advantage can be exploited on hardware already available today. Three years ago, physicists...
'Quantum technologies' utilise the unique phenomena of quantum superposition and entanglement to encode and process information, with potentially profound benefits to a wide range of information technologies from communications to sensing and computing.
However a major challenge in developing these technologies is that the quantum phenomena are very fragile, and only a handful of physical systems have been...
Working group led by physicist Professor Ulrich Nowak at the University of Konstanz, in collaboration with a team of physicists from Johannes Gutenberg University Mainz, demonstrates how skyrmions can be used for the computer concepts of the future
When it comes to performing a calculation destined to arrive at an exact result, humans are hopelessly inferior to the computer. In other areas, humans are...
Scientists develop a molecular recording tool that enables in vivo lineage tracing of embryonic cells
The beginning of new life starts with a fascinating process: A single cell gives rise to progenitor cells that eventually differentiate into the three germ...
29.04.2019 | Event News
17.04.2019 | Event News
15.04.2019 | Event News
17.05.2019 | Materials Sciences
17.05.2019 | Physics and Astronomy
17.05.2019 | Materials Sciences