KfW serves investors with a new 5 year USD global - Again strong demand from Asia

Frankfurt (ots) - On Wednesday afternoon KfW successfully
completed its third offering under its 2010 USD global programme with
a USD 3 billion 5 year issue. 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:

Central Banks: 46%
Banks: 30%
Funds: 18%
Others: 6%

Geographical Breakdown:

Asia: 44%
Europe: 35%
Americas: 20%
Middle East: 1%

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 III/2010
USD 3 billion - 2.625% - 2010/2015

ISIN: US500769DR22
Issuer: KfW (Kreditanstalt für Wiederaufbau)
Guarantor: Federal Republic of Germany
Rating: AAA (Fitch Ratings)/Aaa (Moody's)/AAA (Standard & Poor's)
Size: USD 3,000,000,000.--
Maturity Date: March 3rd 2010 - March 3rd 2015
Coupon: 2.625% p.a., semi-annual coupon
Payment Dates: March 03rd and September 03rd
Re-offer-Price: 99.526%
Yield: 2.727% semi-annually
Format: Global
Stock Market Listing: Luxembourg

Lead Managers (3):

Citi
Deutsche Bank
Royal Bank of Canada CM

Co-Lead Managers (10):

Bank of America / Merrill Lynch,
Barclays
BNP Paribas
DZ Bank
Goldman Sachs
HSBC
Mitsubishi UFG
Morgan Stanley
Nomura
Royal Bank of Scotland

Originaltext: KfW
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Pressekontakt:
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