By Laura Contemori – ROME (Econostream) – German development bank KfW on Tuesday raised €3 billion through a 10-year benchmark bond maturing June 30, 2036.

The bond carries a 3.375% coupon and was priced at a yield of 3.394%, equivalent to 23.2bp over the German DBR 2.9% February 2036 benchmark.

The final order book exceeded €12 billion, including €1.8 billion of joint lead manager interest, with participation from close to 100 investors.

Central banks and official institutions accounted for 42% of allocations, followed by banks with 31% and asset managers with 22%. By geography, UK and Irish investors represented 21% of allocations, ahead of the Benelux region with 17%, the Nordics with 13% and Asia with 11%.

“KfW seized a well supported window to return to the EUR market with this year’s second 10-year transaction,” KfW Treasurer Tim Armbruster said in a statement, citing strong investor demand despite continued market volatility linked to the conflict in the Middle East.

Settlement was scheduled for May 27, 2026.

BNP Paribas, DZ Bank, Goldman Sachs Bank Europe SE and HSBC acted as joint lead managers.