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

DEPFA ACS BANK DAC (-) 
Confirmation by DEPFA ACS BANK DAC of the buyback and cancellation of 
certain covered bonds and the sale of assets 
 
07-Jun-2019 / 12:40 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            Ad Hoc Announcement - For immediate release 
 
   RE: Confirmation by DEPFA ACS BANK DAC of the buyback and cancellation of 
            certain covered bonds and the sale of assets 
 
            7 June 2019 
 
     Issued on behalf of DEPFA ACS BANK DAC ("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 15 May 2019, 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 1.28bln (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 Outstandi 
                                  currency)    ng 
                                            (issuance 
                                            currency) 
CH0026116XXX 31/07/2031    CHF     625,000  3,735,000 SWX Swiss 
XS0217803XXX 25/04/2025    EUR    10,000,00   0.00      London 
                                      0 
US249575AXXX 16/03/2037    USD    10,150,00 17,240,00   Dublin 
     /                                0         0 
DE000A0LPXXX 
XS0259466XXX 06/07/2031    EUR    15,000,00   0.00      Dublin 
                                      0 
XS0259885XXX 06/07/2036    EUR    15,000,00   0.00      Dublin 
                                      0 
XS0258836XXX 30/06/2021    EUR    20,000,00   0.00    Luxembourg 
                                      0 
 
            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 1.34bln (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 0.31bln. 
 
            Media Contacts for DEPFA and FMS-WM 
 
For DEPFA: 
 
Rachel Martin 
 
Head of Communications 
 
Tel.: [phone] 
 
[e-mail] 
 
            For FMS-WM: 
 
            Frank Hessel 
 
            Communications Department 
 
            Tel.: [phone] 
 
[e-mail] 
 
ISIN:          DE000A0BCXXX 
Category Code: MSCH 
TIDM:          - 
LEI Code:      6LIRQ1CRLFL6PQWR8919 
Sequence No.:  9503 
EQS News ID:   821459 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

June 07, 2019 06:40 ET (10:40 GMT)