KfW in the news

  • KfW mandates for euro five year

    KfW hit screens on Monday, mandating three banks for a five year euro transaction.

    • 16 Oct 2017
  • Kangaroo market reopens for Middle East borrowers

    Abu Dhabi Commercial Bank is set to come to market for a potential triple tranche kangaroo bond on Friday, following a deal from Emirates NBD that, according to a banker at one of ADCB’s leads, showed the market was still accessible to Middle Eastern borrowers.

    • 12 Oct 2017
  • AfDB leads long end MTN flurry

    The African Development Bank has sold its longest MTN ever, leading a spurt of long dated private placement euro issuance from public sector borrowers.

    • 03 Oct 2017
  • SSAs sowing the seeds of green pricing performance

    The much sought after trend for green bonds to outperform conventional paper in secondary trading is now a reality, according to public sector borrowers — but perhaps only for those with enough dots on their green curves to provide a comparison.

    • 29 Sep 2017
  • MuniFin, KfW punch through curves with green bonds

    Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.

    • 28 Sep 2017
  • KfW USD1bn 2% Sep 22 green bond

    • 28 Sep 2017
  • KfW goes super-tight in dollars as green investors pile in

    KfW has punched through its conventional curve with a dollar green bond that left bankers away from the trade a similar colour of envy. More SRI supply is on the way, after the European Bank for Reconstruction and Development hit screens for Thursday’s business.

    • 27 Sep 2017
  • Investors pile into white hot SSA market but future looks green

    Investors are packing order books for public sector syndications this week, striving to pick up what may be a dwindling pool of conventional assets. With much of their funding for the year done, borrowers are turning to the green bond market.

    • 27 Sep 2017
  • Blockchain ECP trial highlights need for central bank crypto-cash

    KfW has joined the select group of capital markets institutions to have issued a security using blockchain technology. Though only a proof of concept, the transaction highlighted the fact that, without some kind of distributed ledger cash system, blockchain-based issuance has little to offer. If the technology is to realize its promise, central banks must weigh in and provide a solution.

    • 26 Sep 2017
  • MuniFin scores with green euro debut in scorching market

    One borrower took advantage of an excellent backdrop to scoop up its first green funding in euros at an attractive level on Tuesday, while a second issuer is lining up to follow suit in dollars.

    • 26 Sep 2017
  • KfW runs blockchain ECP test

    KfW has entered the Blockchain race, after simulating a trade in real time using distributed ledger technology, the agency said on Monday.

    • 25 Sep 2017
  • BondMarker results: the September rush

    Last week brought a slew of high quality deals, despite the ECB meeting on September 7 causing some issuers to hold off. Those that went ahead have been scored by the BondMarker voters. Read on to see how they did.

    • 14 Sep 2017
  • Funding scorecard: European supranationals and agencies

    This week's funding scorecard looks at the funding progress various European supranationals and agencies have made in their funding programmes as we head into the September rush.

    • 11 Sep 2017
  • KfW EUR5bn 0.5% Sep 27

    • 07 Sep 2017
  • Investors power through ECB meeting

    A tremendously supportive SSA market brushed off Thursday’s European Central Bank (ECB) meeting, printing all the way up to the morning of the press conference by bank president Mario Draghi, writes Lewis McLellan.

    • 07 Sep 2017
  • KfW GBP300m 0.375% Dec 20

    • 07 Sep 2017
  • CEB scoops largest sterling ever as market booms

    The sterling market is on fire for SSA borrowers. Attractive conditions and investors with cash to deploy have come together to produce some of the market’s most impressive deals of the year, with more in the pipeline.

    • 07 Sep 2017

KfW data breakdown

Sources: KfW, Dealogic

Credit rating Aaa/AAA
Basel II risk weighting
0%
Headquarters
Palmengartenstraße 5-9,
60325 Frankfurt am Main,
Germany



Dealer League Table KfW

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 6,590.89 9 8.98%
2 Bank of America Merrill Lynch 6,555.14 10 8.93%
3 Citi 6,208.17 12 8.46%
4 JPMorgan 5,816.06 13 7.93%
5 HSBC 5,656.82 8 7.71%


Key
officials

Frank Czichowski, treasurer
Petra Wehlert, head of capital markets
Otto Weyhausen-Brinkmann, head of new issues
Alexander Liebethal, head of new issues
Jürgen Köstner, head of investor relations

Guarantee Explicit and direct state guarantee.
Ownership
structure
Federal Republic of Germany: 80%
German Federal States: 20%
Private
placement
policy
KfW issues bonds and notes in the form of private placements in order to satisfy the demand from institutional investors for customised products. The structure, currencies and maturities of these bonds bearer bonds and notes are flexible and tailored to the specific investment needs of individual investors.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 17,773.39 25 9.05%
2 HSBC 16,094.53 24 8.19%
3 BNP Paribas 14,513.99 21 7.39%
4 Barclays 14,014.48 21 7.13%
5 Goldman Sachs 13,328.33 24 6.78%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Oct 2017
1 JPMorgan 45,626.01 111 11.54%
2 Citi 45,298.31 115 11.46%
3 HSBC 31,954.47 73 8.08%
4 Bank of America Merrill Lynch 31,646.56 91 8.01%
5 Deutsche Bank 25,336.01 60 6.41%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,254.14 93 7.35%
2 UniCredit 31,545.41 101 7.19%
3 BNP Paribas 30,965.57 63 7.06%
4 Goldman Sachs 30,813.44 79 7.02%
5 Barclays 28,821.98 69 6.57%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 85,260.76 291 7.41%
2 JPMorgan 83,401.52 474 7.25%
3 HSBC 75,131.79 254 6.53%
4 Bank of America Merrill Lynch 62,436.52 190 5.43%
5 Goldman Sachs 58,162.93 154 5.06%