DGAP-Adhoc: DEPFA ACS BANK: Confirmation by DEPFA ACS BANK of the buyback and cancellation of certain covered bonds and the sale of assets

DGAP-Ad-hoc: DEPFA ACS BANK / Key word(s): Bond 
DEPFA ACS BANK: Confirmation by DEPFA ACS BANK of the buyback and 
cancellation of certain covered bonds and the sale of assets 
 
06-Nov-2017 / 13:30 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR, transmitted by 
DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*Ad Hoc Announcement* - For immediate release 
 
RE: *Confirmation by DEPFA ACS BANK of the buyback and cancellation of 
certain covered bonds and the sale of assets * 
 
6 November 2017 
 
Issued on behalf of DEPFA ACS BANK ("*DEPFA ACS*" or the "*Issuer*")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 Issuer and the covered bonds. 
 
_Background:_ 
On 12 October 2017, DEPFA ACS announced a transaction to buyback and cancel 
certain of their covered bonds (asset covered securities ("*ACS*") or 
"*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 2.0bln (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 
                                  *(issuance Outstandin 
                                  currency)*     g* 
                                             *(issuance 
                                             currency)* 
XS0246642523 20/03/2026    USD    100,000,00    0.00    Luxembourg 
                                     0.00 
XS0225861060 11/08/2032    USD    50,000,000    0.00      Dublin 
                                     .00 
US249575AN19 16/03/2037    USD    1,000,000. 27,390,000   Dublin 
     /                                00        .00 
DE000A0LPMX0 
XS0209003697 07/01/2020    EUR    400,000,00    0.00      London 
                                     0.00 
XS0244760061 20/10/2021    EUR    100,000,00    0.00    Not listed 
                                     0.00 
XS0259316882 30/06/2021    EUR    75,000,000    0.00    Not listed 
                                     .00 
XS0215668376 01/04/2020    EUR    50,000,000    0.00      Dublin 
                                     .00 
XS0236319975 08/12/2025    EUR    50,000,000    0.00    Not listed 
                                     .00 
XS0218532249 20/05/2020    EUR    25,000,000 25,000,000   Dublin 
                                     .00        .00 
XS0222699091 21/06/2020    EUR    10,000,000    0.00    Frankfurt 
                                     .00 
XS0277535075 25/05/2031    EUR    10,000,000    0.00    Not listed 
                                     .00 
 
_Cancellation of covered bonds:_ 
All the covered bonds being bought back by the Issuer 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 2.0bln (in nominal value) of public sector assets. 
 
_Purchase price:_ 
The purchase price of the covered bonds has been conducted on an arm's 
length basis and assessed at fair market value. The purchase price for the 
public sector assets is also being 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. 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 pool of DEPFA ACS. Following such completion the nominal amount of 
outstanding DEPFA ACS covered bonds will be approximately Euro 2.8bln. 
 
*Media Contacts for DEPFA and FMS-WM* 
 
For DEPFA: 
Rachel Martin 
Head of Communications 
Tel.: [phone] 
[e-mail] 
 
For FMS-WM: 
Andreas Henry 
Head of Communications 
Tel.: [phone] 
[e-mail] 
 
06-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language: English 
Company:  DEPFA ACS BANK 
          1, Commons Street 
          Dublin 1 Dublin 
          Ireland 
Phone:    [phone] 
Fax:      [phone] 
E-mail:   [e-mail] 
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 
 
625283 06-Nov-2017 CET/CEST 
 
 

(END) Dow Jones Newswires

November 06, 2017 07:30 ET (12:30 GMT)