DJ DEPFA ACS BANK DAC - Notice of Scheme Redemption Amount
DEPFA ACS BANK DAC (-) DEPFA ACS BANK DAC - Notice of Scheme Redemption Amount 25-Aug-2021 / 17:45 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.
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Company Announcement - For immediate release
RE: DEPFA ACS BANK DAC - Notice of Scheme Redemption Amount
25 August 2021
Issued by DEPFA ACS BANK DAC (the "Bank""), in respect of its asset covered securities listed on the main market of the London Stock Exchange with ISINs:
CA249575AG69; and
XS0222934357.
NOTICE OF SCHEME REDEMPTION AMOUNTS
On 27 May 2021 the Bank announced it intended to apply to the High Court of Ireland (the "Court") to initiate a scheme of arrangement under Part 9 of the Companies Act 2014 of Ireland (as amended, the "Companies Act") (the "Scheme ") in order to convene a meeting ("Scheme Meeting") of the holders of its asset covered securities ("Securities") with outstanding maturities beyond 2021 (the "Security Holders") to seek their consent and the approval of the Court to accelerate the redemption of the Securities.
On 15 June 2021 the Bank announced that the Court had granted the orders necessary to initiate the proposed Scheme and that the Scheme Meeting would be held on 14 July 2021. On 15 June 2021 the Bank issued a circular in compliance with section 452 of the Companies Act in connection with the Scheme (the "Scheme Circular", which is available at the website established by the Information Agent in connection with the Scheme at https://dm.epiq11.com/DEPFA).
On 15 July 2021 the Bank announced that the Security Holders had passed the resolution approving the Scheme at the Scheme Meeting and that the Court had granted orders necessary for the Bank to make an application pursuant to section 453(2) of the Companies Act sanctioning the Scheme to be heard by the Court on 29 July 2021 (the "Sanction Hearing").
On 3 August 2021 the Bank announced that: a. the Sanction Hearing was held on 29 July 2021 and at the Sanction Hearing the Court granted an ordersanctioning the Scheme (the "Sanction Order"); b. the Sanction Order was delivered to the Registrar of Companies in Ireland for registration on 3 August2021 and the Scheme thereby became effective in accordance with Part 9, Chapter 1 of the Companies Act that day(such day being the Scheme Effective Date); c. in accordance with the Scheme, on the Scheme Effective Date the Bank executed the Deed of Covenant (asdefined in the Scheme) for the purposes of giving full effect to the Scheme; and d. in accordance with the Scheme and the Deed of Covenant, the Bank had designated 27 August 2021 as theScheme Redemption Date, being the date for the redemption in full of the Securities in accordance with the Scheme.
Terms used in this Notice and not otherwise defined herein shall have the meanings given to them in the Scheme Circular.
Notice is hereby given that the Scheme Redemption Amount (as defined in the Deed of Covenant) for Security ISINs CA249575AG68 and XS0222934357 has been determined by the Bank at the applicable Pricing Time on the Pricing Date (being the date of this Notice) in accordance with the Deed of Covenant as an amount in cash (rounded to the nearest CAD/EUR 0.01 with CAD/EUR 0.005 rounded upwards) equal to the sum of:
(i) the product of (i) the principal amount outstanding of such Security on the Scheme Redemption Date and (ii) the relevant Redemption Price (as determined in accordance with clause 3 (Redemption Price) of the Deed of Covenant); and
(ii) the Accrued Interest Payment in respect of such Security (as determined in accordance with clause 4 (Accrued Interest) of the Deed of Covenant); and
(iii) the applicable Premium Payment in respect of such Security (as determined in accordance with clause 5 (Premium) of the Deed of Covenant), and is set out in the Schedule to this Notice.
For further information, please contact:
Rachel Martin Head of Communications DEPFA BANK plc Tel.: +353 1 792 2144 rachel.martin@depfa.com
Schedule
Security Redemption Price including Accrued Scheme Redemption Amount
Premium (clean price) Interest
CAD 300,000,000 Fixed Rate Securities due March 118.37 % CAD CAD 1,205.13 per CAD 1,000
2025 (ISIN: CA249575AG69) 50,814.10 principal amount
EUR 100,000,000 Floating Rate Securities due 104.72 % EUR EUR 1,053.59 per EUR 1,000
June 2022 (ISIN: XS0222934357) 639,166.69 principal amount
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ISIN: DE000A0BCLA9 Category Code: SOA TIDM: - LEI Code: 6LIRQ1CRLFL6PQWR8919 Sequence No.: 120780 EQS News ID: 1228944 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
August 25, 2021 11:45 ET (15:45 GMT)
