KfW launches fourth Global of its USD Programme in 2009

Frankfurt (ots) - KfW launched its fourth USD Global in 2009 on
Tuesday evening. The issue has a maturity of three years and a volume
of USD 3 bn.

The USD 3 bn issue with a settlement on 16 April 2009 matures on
16 April 2012. With a coupon of 2.25% semi-annually and a re-offer
price of 99.83% it yields 2.309% semi-annually. This corresponds to a
yield pick-up of 100.75 basis points over the US Treasury maturing in
March 2012. The bond will have an AAA/Aaa/AAA rating from Fitch
Ratings, Moody's and Standard & Poor's. The transaction is lead
managed by Barclays Capital, HSBC and JP Morgan. Co-lead managers are
BNP Paribas, Citi, Credit Suisse, Merrill Lynch, Morgan Stanley,
Nomura, Royal Bank of Canada CM, Royal Bank of Scotland and UBS.

The yield pick-up over comparable US issues as well as KfW's
excellent credit risk resulted in substantial demand for the bond.
The order book was opened on Monday afternoon and grew steadily. The
book was closed on Tuesday afternoon with a volume exceeding USD 4
bn. 108 individual orders showed once more the interest of
institutional investors throughout the world in the excellent credit
risk of the Federal Republic of Germany, which guarantees KfW bonds.

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

Breakdown by investor type:

Banks: 34%
Central Banks: 32%
Asset Manager: 25%
Other: 9%

Geographical breakdown:

Europe: 45%
Asia: 28%
Americas: 23%
Others:

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 IV/2009 USD 3 billion - 2.25%

- 2009/2012 -

ISIN: US500769DG66
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: 16 April 2009 - 16 April 2012
Coupon: 2.25%, semi-annual coupon
Payment Dates: 16 October and 16 April
Re-offer-Price: 99.83%
Yield: 2.309% semi-annually
Format: Global
Listing: Luxembourg

Lead Managers (3):

Barclays Capital
HSBC
JP Morgan

Co-Lead Managers (9):

BNP Paribas
Citi
Credit Suisse
Merrill Lynch
Morgan Stanley
Nomura
Royal Bank of Canada Capital Markets
Royal Bank of Scotland
UBS

Originaltext: KfW
digital press kits: http://www.presseportal.de/pm/41193
press kits via RSS: http://www.presseportal.de/rss/pm_41193.rss2

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