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)
CH0026116084 31/07/2031 CHF 625,000 3,735,000 SWX Swiss
XS0217803914 25/04/2025 EUR 10,000,00 0.00 London
0
US249575AN19 16/03/2037 USD 10,150,00 17,240,00 Dublin
/ 0 0
DE000A0LPMX0
XS0259466695 06/07/2031 EUR 15,000,00 0.00 Dublin
0
XS0259885316 06/07/2036 EUR 15,000,00 0.00 Dublin
0
XS0258836914 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.: +353 1 792 2144
rachel.martin@depfa.com
For FMS-WM:
Frank Hessel
Communications Department
Tel.: +49-89- 9547627 647
frank.hessel@fms-wm.de
ISIN: DE000A0BCLA9
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)
