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DGAP-Regulatory: DEPFA ACS BANK: Purchase by FMS Wertmanagement AöR of DEPFA group covered bond securities

Freitag, 29.07.2016 15:15

DEPFA ACS BANK / Miscellaneous - High Priority
 DEPFA ACS BANK: Purchase by FMS Wertmanagement AöR of DEPFA group covered
 bond securities
 
 29-Jul-2016 / 15:14 CET/CEST
 Dissemination of a Regulatory Announcement, transmitted by 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: Purchase by FMS Wertmanagement AöR of DEPFA group covered bond securities 29 July 2016 Issued on behalf of DEPFA ACS BANK in respect of its listed debt. In January 2016, FMS Wertmanagement AöR ('FMS-WM'), the parent company of DEPFA BANK plc ('DEPFA' and collectively with its subsidiaries the 'DEPFA Group'), announced a public tender offer to purchase certain Asset Covered Securities issued by DEPFA ACS BANK, Dublin ('DEPFA ACS'), and certain Lettres de Gage Publiques issued by DEPFA Pfandbriefbank International S. A. Luxembourg ('DEPFA PBI'). FMS-WM has to date purchased DEPFA ACS covered bond securities with an aggregate nominal amount of around EUR 4.8 bn (a nominal amount of around EUR 3 bn thereof pertaining to global notes and the remainder to registered notes) and DEPFA PBI covered bond securities with an aggregate nominal amount of around EUR 0.8 bn (a nominal amount of around EUR 0.3 bn thereof pertaining to global notes and the remainder to registered notes), in total around EUR 5.6 bn. About EUR 2.6 bn of the covered bond securities issued by the DEPFA Group were purchased in the context of the public tender offer and a further EUR 3 bn have been acquired by FMS-WM based on bilateral agreements with investors. Further detail of the percentage holding by FMS-WM in the global notes is set out in the tables below. Issuer: DEPFA ACS
 
 ISIN /      Maturity   Issuan-  Principal       Amount     % of    Listing
 Common      Date       ce       Amount          Purchased  FMSW
 Code                   Curren-  Outstanding                holdi-
                        cy                                  ng
 CA249575AG  31/03/202  CAD      300,000,000     297,419,0  99.1%   London
 69          5                                   00
 CA249575AJ  24/08/203  CAD      350,000,000     349,450,0  99.8%   Dublin
 09          5                                   00
 DE000A0LPM  16/03/203  USD      962,601,000     927,211,0  96.3%   Dublin
 X0 / US249  7                                   00
 575AN19
 CH00227381  13/10/201  CHF      266,645,000     191,940,0  72.0%   Swiss
 05          7                                   00
 CH00240213  15/02/201  CHF      200,000,000     140,640,0  70.3%   Swiss
 02          9                                   00
 DE000A0BCL  21/05/201  EUR      1,000,000,000   551,300,0  55.1%   Dublin &
 A9          9                                   00                 Frankfu-
                                                                    rt
 CH00261160  31/07/203  CHF      200,000,000     195,640,0  97.8%   Swiss
 84          1                                   00
 XS02090036  07/01/202  EUR      400,000,000     400,000,0  100%    London
 97          0                                   00
 XS02258610  11/08/203  USD      50,000,000      50,000,00  100%    Dublin
 60          2                                   0
 XS02156683  01/04/202  EUR      50,000,000      50,000,00  100%    Dublin
 76          0                                   0
 XS02396245  22/12/203  USD      65,000,000      65,000,00  100%    N/A
 46          0                                   0
 XS02069243  17/12/202  CHF      50,000,000      50,000,00  100%    N/A
 09          4                                   0
 XS02356452  05/12/202  EUR      100,000,000     100,000,0  100%    N/A
 14          5                                   00
 
Issuer: DEPFA PBI
 
 ISIN /       Maturity   Issuance Notional    Notional    % of    Listing
 Common Code  Date       Currency Currency    Purchase    FMSW
                                              Currency    holding
 CH0026463577 31/08/2020 CHF      397,000,000 304,995,000 76.8%   Swiss
 XS0294671291 20/04/2027 CHF      50,000,000  50,000,000  100%    N/A
 
In addition, in 2015 FMS-WM has - as communicated before - purchased hybrid capital debt instruments issued by DEPFA through the funding vehicles: DEPFA Funding II LP, DEPFA Funding III LP and DEPFA Funding IV LP. The remaining hybrid securities issued by these vehicles not acquired by FMS-WM were subsequently acquired by DEPFA, such that DEPFA and FMS-WM jointly hold 100 % of DEPFA's hybrid capital debt instruments with an aggregate nominal value of EUR 1.2 bn. The purchases by FMS-WM of the various debt instruments issued by DEPFA ACS and DEPFA PBI aim at enhancing the wind down of DEPFA on an accelerated basis, which is one of FMS-WM's key goals. It can be expected that in a next step, in cooperation with FMS-WM, DEPFA Group's liabilities could be reduced and the cover pools of DEPFA ACS and DEPFA PBI adjusted accordingly. DEPFA and FMS-WM will work over the coming months to implement this strategy. Such strategy may affect the future market liquidity of the outstanding securities issued by DEPFA ACS and DEPFA PBI. DEPFA and FMS-WM will assess further measures to support the accelerated wind down of the DEPFA Group. This may include in particular a removal of ratings where there is no contractual requirement to maintain such ratings. FMS-WM was founded in July 2010 as a German state owned wind down agency in order to wind up risk positions and non-strategic operations of the former Hypo Real Estate Holding AG group in a manner aimed at maximizing the value of the relevant assets. In May 2014 FMS-WM was instructed to take over the whole share capital of DEPFA in order to wind down the DEPFA group. FMS-WM acquired DEPFA on 19 December 2014. Media Contacts for DEPFA and FMS-WM For DEPFA BANK plc: 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
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The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg
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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); London Category Code: MSCH TIDM: - Sequence Number: 3280 Time of Receipt: 29-Jul-2016 / 14:41 CET/CEST End of Announcement EQS News Service
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487823 29-Jul-2016


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