Ad hoc: DEPFA ACS BANK: Confirmation by DEPFA ACS BANK and DEPFA Pfandbrief Bank International S.A. of the buyback and cancellation of certain covered bonds and the sale of assets

DEPFA ACS BANK / Key word(s): Bond 04.11.2016 11:41 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Ad Hoc Announcement - For immediate release RE: Confirmation by DEPFA ACS BANK and DEPFA Pfandbrief Bank International S.A. of the buyback and cancellation of certain covered bonds and the sale of assets 4 November 2016 Issued on behalf of DEPFA ACS BANK ("DEPFA ACS") and DEPFA Pfandbrief Bank International S.A. ("DEPFA PBI" and together with DEPFA ACS, the "Issuers") in each case in respect of its covered bonds (as defined below) listed on a trading venue within the scope of Regulation (EU) No. 596/2014 (the "Market Abuse Regulation"). The Market Abuse Regulation requires disclosure of inside information relating to the Issuers and the covered bonds. Background: On 14 October 2016, DEPFA ACS and DEPFA PBI announced a transaction to buyback and cancel certain of their covered bonds (respectively, asset covered securities ("ACS") and Lettres de Gage Publiques ("LdG") and collectively, the "covered bonds") from FMS Wertmanagement AöR ("FMS-WM") and then to sell to FMS-WM certain assets. Confirmation of buyback of covered bonds: With effect from today, DEPFA ACS confirms the purchase of approximately Euro 4.0bn (in total nominal amount) of ACS (which include global notes and registered notes). Details of the purchases of the global notes are set out in the table below: Issuer: DEPFA ACS

 
 ISIN /       Maturity   Issuance Amount         Principal      Listing
 Common Code  Date       Currency Purchased      Amount
                                                 Outstanding
 CA249575AG69 31/03/2025 CAD      297,629,000.00 2,371,000.00   London
 CA249575AJ09 24/08/2035 CAD      349,450,000.00 550,000.00     Dublin
 CH0022738105 13/10/2017 CHF      191,940,000.00 74,705,000.00  Swiss
 CH0024021302 15/02/2019 CHF      140,640,000.00 59,360,000.00  Swiss
 CH0026116084 31/07/2031 CHF      195,640,000.00 4,360,000.00   Swiss
 DE000A0BCLA9 21/05/2019 EUR      551,300,000.00 448,700,000.00 Frankfurt
                                                                & Dublin
 US249575AN19 16/03/2037 USD      934,211,000.00 28,390,000.00  Dublin
 DE000A0LPMX0
 XS0206924309 17/12/2024 CHF      50,000,000.00  -              None
 XS0235645214 05/12/2025 EUR      100,000,000.00 -              None
 XS0239624546 22/12/2030 USD      65,000,000.00  -              None
 

DEPFA PBI confirms the purchase of approximately Euro 826m (in total nominal amount) of LdG (which include global notes and registered notes). Details of the purchases of the global notes are set out in the table below: Issuer: DEPFA PBI

 
 ISIN /        Maturity    Issuance  Amount          Principal      Listing
 Common Code   Date        Currency  Purchased       Amount
                                                     Outstanding
 CH0026463577  31/08/2020  CHF       304,995,000.00  92,005,000.00  Swiss
 XS0294671291  20/04/2027  CHF       50,000,000.00   -              None
 

Cancellation of covered bonds: All the covered bonds being bought back by the Issuers will be cancelled where bought back in full or, where bought back in part, have the principal amount outstanding reduced accordingly. Sale of assets: With effect from today, following the cancellation of the covered bonds described above, FMS-WM will immediately complete the purchase from DEPFA ACS of approximately Euro 4.1bln (in nominal value) of public sector assets and approximately Euro 1.1bln (in nominal value) of public sector assets from DEPFA PBI. Purchase price: The purchase price of both the covered bonds and the public sector assets have been conducted on an arm's length basis and assessed at fair market value. FMS-WM and the wind down of the DEPFA group: FMS-WM is the parent company of DEPFA BANK plc which is the parent of DEPFA ACS and DEPFA PBI. FMS-WM was established in 2010 as a German state owned wind down agency in order to wind up risk positions and non-strategic operations in a manner aimed at maximizing the value of the relevant assets. FMS-WM took ownership of DEPFA BANK plc in December 2014. The strategy of DEPFA BANK plc is to continue to wind down its balance sheet and those of its subsidiaries in a manner designed to maintain value. Completion of the transactions identified in this announcement is a further step in the wind down plan of the DEPFA BANK plc group which helps reduce the cover pools of both DEPFA ACS and DEPFA PBI. Media Contacts for DEPFA, the Issuers and FMS-WM For DEPFA BANK plc and the Issuers: Rachel Martin Head of Communications Tel.: +353 1 792 2144 rachel.martin@depfa.com For FMS-WM: Andreas Henry Head of Communications Tel.: +49-89- 9547627 250 andreas.henry@fms-wm.de 04.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: DEPFA ACS BANK 1, Commons Street Dublin 1 Dublin Ireland Phone: +353 1 792 2222 Fax: +353 1 792 2211 E-mail: info@depfa.com Internet: www.depfa.com ISIN: DE000A0BCLA9 WKN: A0BCLA Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London End of Announcement DGAP News-Service
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