The Firm has represented the underwriters in 12 public offerings of debt securities by KfW in 2021 (through August 12), including several U.S. dollar benchmark offerings, an inaugural offering of SOFR linked notes and a Canadian dollar notes offering:
€1 billion of 0.125% Global Bonds due 2024
$5 billion of 0.625% Global Notes due 2026
$1 billion of SOFR Floating Rate Global Notes due 2024
C$1 billion of 0.75% Global Notes due 2026 (Green Bond)
$5 billion of 0.25% Global Notes due 2024
€1 billion of 0% Global Bonds due 2023
$5 billion of 0.25% Global Notes due 2023
€1 billion of 0.125% Global Bonds due 2024
$5 billion of 0.5% Global Notes due 2024
€1 billion of 0.625% Global Bonds due 2025
€1 billion of 0.125% Global Bonds due 2023
€1 billion of 0.75% Global Bonds due 2028
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.
The Simpson Thacher team for these transactions included Mark Brod, Surya Bala, Dominik Juster, Alexander Yeagley, William Taylor, Melchor Alvarez de Mon and Patrick Kratzenstein (Capital Markets); and Meredith B. Jones, Kelli Rivers and Gal Shemer (Tax).