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Commentary & Deal Flow

ALLOCATIONS OUT: KfW €100m 1.5yr Sr Unsec; KFW 0% 12/27+3bp

IGC European Market: Deal Flow - SSA

Issuer

Term

Maturity

Size

Ranking

Type

ISIN

Guidance

Spread Set

Kreditanstalt fuer Wiederaufbau (KfW)

1.5yr

07-Dec-27

€100m

Sr Unsec

Fixed

DE000A5EAGH1

KFW 0% 12/27+3

KFW 0% 12/27+3


Launched: 1.5yr: €100m @ KFW 0% 12/27+3bp
Guidance: 1.5yr: KFW 0% 12/27+3bp


  • Issuer: Kreditanstalt fuer Wiederaufbau (KfW)
  • Ratings: Aaa/AAA/AAA (Moody's/Scope/S&P, all stable)
  • Issuer LEI: 549300GDPG70E3MBBU98
  • Guarantor: Federal Republic of Germany
  • Status: Senior, Unsecured, Unsubordinated, crypto security under German eWpG
  • Format: Standalone documentation, Reg S only
  • Size: €100m
  • Maturity: 07-Dec-27
  • Settlement: 09-Jun-26 (T+1)
  • Reoffer: KFW 0% 12/27 +3bps (the number) (Yield (mid) at time of pricing)
  • Reference Gilt: DBR 0 15-Nov-27 / HR 107%
  • Hedge Deadline: 11:25 CET
  • Coupon: Fixed, annual act/act ICMA (short first coupon)
  • Fee: None
  • Joint Lead Managers: Bankhaus Metzler, DekaBank, DZ BANK, LBBW
  • Law: German Law
  • Target Market: The manufacturer target markets (MIFID II product governance) as assessed by the joint lead managers are eligible counterparties and professional (all distribution channels).
  • Denoms: 100K x 100K
  • ISIN/WKN: DE000A5EAGH1/ A5EAGH
  • Timing: Books to close at 10:45 CET