DGAP-Regulatory: DEPFA ACS BANK: Purchase by FMS

DEPFA ACS BANK / Miscellaneous - High Priority DEPFA ACS BANK: Purchase by FMS Wertmanagement AöR of DEPFA group covered bond securities 29-Jul-2016 / 15:14 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad Hoc Announcement - For immediate release RE: Purchase by FMS Wertmanagement AöR of DEPFA group covered bond securities 29 July 2016 Issued on behalf of DEPFA ACS BANK in respect of its listed debt. In January 2016, FMS Wertmanagement AöR ('FMS-WM'), the parent company of DEPFA BANK plc ('DEPFA' and collectively with its subsidiaries the 'DEPFA Group'), announced a public tender offer to purchase certain Asset Covered Securities issued by DEPFA ACS BANK, Dublin ('DEPFA ACS'), and certain Lettres de Gage Publiques issued by DEPFA Pfandbriefbank International S. A. Luxembourg ('DEPFA PBI'). FMS-WM has to date purchased DEPFA ACS covered bond securities with an aggregate nominal amount of around EUR 4.8 bn (a nominal amount of around EUR 3 bn thereof pertaining to global notes and the remainder to registered notes) and DEPFA PBI covered bond securities with an aggregate nominal amount of around EUR 0.8 bn (a nominal amount of around EUR 0.3 bn thereof pertaining to global notes and the remainder to registered notes), in total around EUR 5.6 bn. About EUR 2.6 bn of the covered bond securities issued by the DEPFA Group were purchased in the context of the public tender offer and a further EUR 3 bn have been acquired by FMS-WM based on bilateral agreements with investors. Further detail of the percentage holding by FMS-WM in the global notes is set out in the tables below. Issuer: DEPFA ACS <pre> ISIN / Maturity Issuan- Principal Amount % of Listing Common Date ce Amount Purchased FMSW Code Curren- Outstanding holdi- cy ng CA249575AG 31/03/202 CAD 300,000,000 297,419,0 99.1% London 69 5 00 CA249575AJ 24/08/203 CAD 350,000,000 349,450,0 99.8% Dublin 09 5 00 DE000A0LPM 16/03/203 USD 962,601,000 927,211,0 96.3% Dublin X0 / US249 7 00 575AN19 CH00227381 13/10/201 CHF 266,645,000 191,940,0 72.0% Swiss 05 7 00 CH00240213 15/02/201 CHF 200,000,000 140,640,0 70.3% Swiss 02 9 00 DE000A0BCL 21/05/201 EUR 1,000,000,000 551,300,0 55.1% Dublin & A9 9 00 Frankfu- rt CH00261160 31/07/203 CHF 200,000,000 195,640,0 97.8% Swiss 84 1 00 XS02090036 07/01/202 EUR 400,000,000 400,000,0 100% London 97 0 00 XS02258610 11/08/203 USD 50,000,000 50,000,00 100% Dublin 60 2 0 XS02156683 01/04/202 EUR 50,000,000 50,000,00 100% Dublin 76 0 0 XS02396245 22/12/203 USD 65,000,000 65,000,00 100% N/A 46 0 0 XS02069243 17/12/202 CHF 50,000,000 50,000,00 100% N/A 09 4 0 XS02356452 05/12/202 EUR 100,000,000 100,000,0 100% N/A 14 5 00 </pre> Issuer: DEPFA PBI <pre> ISIN / Maturity Issuance Notional Notional % of Listing Common Code Date Currency Currency Purchase FMSW Currency holding CH0026463577 31/08/2020 CHF 397,000,000 304,995,000 76.8% Swiss XS0294671291 20/04/2027 CHF 50,000,000 50,000,000 100% N/A </pre> In addition, in 2015 FMS-WM has - as communicated before - purchased hybrid capital debt instruments issued by DEPFA through the funding vehicles: DEPFA Funding II LP, DEPFA Funding III LP and DEPFA Funding IV LP. The remaining hybrid securities issued by these vehicles not acquired by FMS-WM were subsequently acquired by DEPFA, such that DEPFA and FMS-WM jointly hold 100 % of DEPFA's hybrid capital debt instruments with an aggregate nominal value of EUR 1.2 bn. The purchases by FMS-WM of the various debt instruments issued by DEPFA ACS and DEPFA PBI aim at enhancing the wind down of DEPFA on an accelerated basis, which is one of FMS-WM's key goals. It can be expected that in a next step, in cooperation with FMS-WM, DEPFA Group's liabilities could be reduced and the cover pools of DEPFA ACS and DEPFA PBI adjusted accordingly. DEPFA and FMS-WM will work over the coming months to implement this strategy. Such strategy may affect the future market liquidity of the outstanding securities issued by DEPFA ACS and DEPFA PBI. DEPFA and FMS-WM will assess further measures to support the accelerated wind down of the DEPFA Group. This may include in particular a removal of ratings where there is no contractual requirement to maintain such ratings. FMS-WM was founded in July 2010 as a German state owned wind down agency in order to wind up risk positions and non-strategic operations of the former Hypo Real Estate Holding AG group in a manner aimed at maximizing the value of the relevant assets. In May 2014 FMS-WM was instructed to take over the whole share capital of DEPFA in order to wind down the DEPFA group. FMS-WM acquired DEPFA on 19 December 2014. Media Contacts for DEPFA and FMS-WM For DEPFA BANK plc: Rachel Martin Head of Communications Tel.: +353 1 792 2144 rachel.martin@depfa.com For FMS-WM: Andreas Henry Head of Communications Tel.: +49-89- 9547627 250 andreas.henry@fms-wm.de --------------------------------------------------------------------------- The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: DEPFA ACS BANK 1, Commons Street Dublin 1 Dublin Ireland Phone: +353 1 792 2222 Fax: +353 1 792 2211 E-mail: info@depfa.com Internet: www.depfa.com ISIN: DE000A0BCLA9 WKN: A0BCLA Listed: Regulated Market in Frankfurt (General Standard); London Category Code: MSCH TIDM: - Sequence Number: 3280 Time of Receipt: 29-Jul-2016 / 14:41 CET/CEST End of Announcement EQS News Service --------------------------------------------------------------------------- 487823 29-Jul-2016