DGAP-Adhoc: DEPFA Funding III: Agreement by DEPFA Funding IV LP to repurchase and cancel Securities

DGAP-Ad-hoc: DEPFA FUNDING III LP / Key word(s): Miscellaneous 
DEPFA Funding III - Agreement by DEPFA Funding IV LP to repurchase and 
cancel Securities 
 
26-Oct-2018 / 17:20 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, 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: *Agreement by DEPFA Funding IV LP to repurchase and cancel Euro 
500,000,000 Fixed Rate/Floating Rate Guaranteed non-voting Non-cumulative 
Perpetual Preferred Securities having the benefit of a subordinated 
guarantee of DEPFA BANK plc with ISIN: XS0291655727 * 
 
26 October 2018 
 
Issued by DEPFA BANK plc ("*DEPFA*")as General Partner of DEPFA Funding III 
LP (the "*Issuer*") in respect of the outstanding listed debt instruments of 
DEPFA Funding III LP as identified in the table below. This announcement may 
include a communication of inside information for the purposes of the Market 
Abuse Regulation (Regulation (EU) No. 596/2014). 
 
*Issuer*             *ISIN*       *Stock Exchange* 
DEPFA Funding III LP DE000A0E5U85 Frankfurt 
 
_Background_ 
In January 2015 FMS-Wertmanagement AöR ("*FMS-WM*") launched a tender offer 
inviting holders of the Fixed Rate/Floating Rate Guaranteed non-voting 
Non-cumulative Perpetual Preferred Securities of DEPFA Funding IV LP 
("*Funding IV*") (the "*Preferred Securities*") to tender those securities 
for purchase by FMS-WM. In the tender offer, which ended on 18 May 2015, 
99.9% of the holders of the Preferred Securities were tendered to and 
purchased by FMS-WM. At a bondholder meeting of the Preferred Securities on 
20 May 2015 a clear majority voted in favour of facilitating the purchase by 
DEPFA of all Preferred Securities that were not tendered to and purchased by 
FMS-WM. Since these events, Euro 499,250,000 (in nominal amount) of the 
Preferred Securities are held by FMS-WM and Euro 750,000 (in nominal amount) 
are held by DEPFA. 
 
_Repurchase of the Preferred Securities of Funding IV _ 
The boards of FMS-WM and DEPFA have approved the sale to and repurchase by 
Funding IV of the Preferred Securities on a reverse enquiry basis and at 
fair value. The pricing will be conducted on an arm's length basis and 
assessed at fair market value determined on 15 November 2018 with settlement 
expected to take place on 19 November 2018. A final price validation for the 
transaction will be performed by an independent third party. 
 
_Amendment to the Terms and Conditions of the Instruments for Funding IV and 
the Subordinated Guarantees_ 
FMS-WM and DEPFA, as holders of all of the Preferred Securities, have 
consented to the terms and conditions of the Preferred Securities being 
amended to facilitate their repurchase and cancellation. FMS-WM and DEPFA, 
as holders of all of the preferred securities of DEPFA Funding II LP, DEPFA 
Funding III LP and Funding IV have also consented to the removal of the 
distribution and capital stopper undertakings provided by DEPFA as guarantor 
of the preferred securities issued by DEPFA Funding II LP, DEPFA Funding III 
LP and Funding IV. 
 
_FMS-WM and the wind down of the DEPFA group_ 
FMS-WM is the parent company of DEPFA. 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 in December 2014. The 
strategy of DEPFA is to continue to wind down its balance sheet and those of 
its subsidiaries in a manner designed to maintain value. Completion of the 
transaction identified in this announcement is a further step in the wind 
down plan of the DEPFA group. 
 
*Media Contacts for DEPFA, the Issuer and FMS-WM* 
 
For DEPFA BANK plc and the Issuer: 
Rachel Martin 
Head of Communications 
Tel.: [phone] 
[e-mail] 
 
For FMS-WM: 
Andreas Henry? 
Tel.: +49 (0) 89 / 9547627-250? 
E-Mail: [e-mail] 
 
Frank Hessel 
Tel.: +49 (0) 89 / 9547627-647? 
E-Mail: [e-mail] 
 
26-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language: English 
Company:  DEPFA FUNDING III LP 
          Law Debenture, Fifth Floor, 100 Wood Street 
          EC2V 7EX London 
          United Kingdom 
Phone:    [phone] 
Fax:      [phone] 
E-mail:   [e-mail] 
Internet: www.depfa.com 
ISIN:     DE000A0E5U85 
WKN:      A0E5U8 
Listed:   Regulated Market in Frankfurt (General Standard); Regulated 
          Unofficial Market in Berlin, Stuttgart 
 
End of Announcement DGAP News Service 
 
738451 26-Oct-2018 CET/CEST 
 
 

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October 26, 2018 11:20 ET (15:20 GMT)