Kreditanstalt Für Wiederaufbau’s $21.1 Billion Debt Offerings

Simpson Thacher represented underwriters in 8 public offerings of debt securities by KfW.

The offering consisted of $5 billion of 2.625% Global Notes due 2024, C$1 Billion 2% Global Notes due 2022, €1 billion of 0.75% Global Bonds due 2028, $5 billion of 2.5% Global Notes due 2022, $3 billion of 2.375% Global Notes due 2021, €1 billion of 0.125% Global Bonds due 2023, €1 billion of 0.25% Global Bonds due 2025 and $4 billion of 1.75% Global Notes due 2022.

The lead underwriters for these offerings have varied and have included many of the leading U.S., European and Canadian banks.

KfW, also known as Kreditanstalt für Wiederaufbau, is a development bank owned by the Federal Republic of Germany and the German federal states. KfW serves domestic and international public policy objectives of the German government.

Bank of Montreal, London Branch, Barclays Bank PLC and Citigroup Global Markets Limited, RBC Europe Limited, The Toronto-Dominion Bank, Commerzbank Aktiengesellschaft, J.P. Morgan Securities plc, RBC Capital Markets, LLC, HSBC Bank plc, Morgan Stanley & Co. International plc, Nomura International plc, DZ BANK AG, Goldman Sachs International, Merrill Lynch International, Société Générale, Morgan Stanley and RBC Capital Markets acted as underwriters on the deal.

The Simpson Thacher team for these transactions included Carol Daniel (Picture), Mark Brod, Surya Bala and John Loubriel (Capital Markets); and Meredith B. Jones, William Smolinski and Kelli Rivers (Tax).

Involved fees earner: Surya Bala – Simpson Thacher & Bartlett; Mark Brod – Simpson Thacher & Bartlett; Carol Daniel – Simpson Thacher & Bartlett; Meredith Jones – Simpson Thacher & Bartlett; John Loubriel – Simpson Thacher & Bartlett; Kelli Rivers – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of Montreal; Barclays Bank; Citigroup Global Markets Ltd; Commerzbank AG; DZ BANK AG; Goldman Sachs & Co.; Hsbc Bank plc; J.P. Morgan Securities LLC; Merrill Lynch International; Morgan Stanley; Nomura; RBC Capital Markets; RBC Europe Limited; Société Générale; Toronto-Dominion Bank;