KfW hits jackpot with record five year dollar issue

KfW issued a record $4bn five year global bond in the short window before Chinese New Year. Lead managers Deutsche Bank, HSBC and Lehman Brothers sold 50% of the deal to central banks, showing more than ever the cash-rich position of the central banks and the strong flight to quality bid. To find out more about the workings of the deal, read EuroWeek on Friday.