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KfW 10-yr bond orders top 4.5 bln euros -lead

Tue Jan 8, 2008 3:48am EST

LONDON, Jan 8 (Reuters) - Orders for KfW's [KFW.UL] 10-year euro bond have topped 4.5 billion euros ($6.61 billion), with bookbuilding set to continue on Tuesday, an official at one of the banks managing the sale said.

Guidance on the deal remains at mid-swaps minus 13 basis points, now equivalent to 28 basis points over the January 2018 German Bund DE10YT=RR, the official said.

The deal is the first benchmark issue from the German state development bank's 70 billion euro 2008 issuance programme. KfW's benchmark euro bonds are usually at least 3 billion euros in size.

Citigroup, Royal Bank of Scotland and UBS are managing the sale.

KfW is rated triple-A by Moody's Investors Service and Standard & Poor's. Its debt is guaranteed by the Federal Republic of Germany. (Reporting by Richard Barley; Editing by Quentin Bryar)



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