German agency KfW maintains its €75bn issuance target for 2010

The head of capital markets at KfW, Horst Seissinger, explains how building long-term relationships with investors has helped the bank achieve its funding targets even during periods of extreme volatility in the financial markets.

Horst Seissinger, KfW: there has to be continuity in issuance volumes to give investors confidence

In times of crisis, when investors flee to the safest and most liquid credits, it helps to be a supranational agency. And Frankfurt-based development agency KfW Bankengruppe is a prime beneficiary of this flight to quality. The bank is one of the most active issuers in the international capital markets, selling around €75 billion of bonds a year with the help of an explicit guarantee from the Federal Republic of Germany.

The flagships of its funding strategy are the euro and dollar benchmark