FMS Wertmanagement AöR Launches Cash Tender Offer

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT OR LOCATED IN, ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. DISTRIBUTION OF THIS ANNOUNCEMENT IN CERTAIN JURISDICTIONS, INCLUDING, AMONG OTHERS, THE UNITED KINGDOM, BELGIUM, CANADA, FRANCE AND ITALY IS RESTRICTED BY LAW. PLEASE REFER TO OFFER AND DISTRIBUTION RESTRICTIONS DESCRIBED IN THE TENDER OFFER MEMORANDUM.

Jan 19, 2016, 04:36 ET from FMS Wertmanagement AoR

MUNICH, Jan. 19, 2016 /PRNewswire/ -- FMS Wertmanagement AöR (the "Offeror") has today invited holders of the securities listed below (the "Securities") to tender any and all of their Securities for purchase by the Offeror for cash (the "Offers") on the terms of, and subject to the conditions contained in, a tender offer memorandum dated January 19, 2016 (the "Tender Offer Memorandum"). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.

This announcement does not constitute an offer to acquire any of the Securities, which is being made solely pursuant to the Tender Offer Memorandum. Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on the procedures for participating in, the Offers.

Note

ISIN

CUSIP

Principal Amount Outstanding1

Benchmark Rate

Fixed
Spread

DEPFA ACS Bank
5.125% Asset Covered
Securities due 2037

144A: US249575AN19

Reg S: DE000A0LPMX0

249575AN1

U.S.$962,601,000

USD Securities
Interpolated Mid-Swap
Rate

80 bps







DEPFA ACS Bank
5.250% ACS Instruments
due 2025

CA249575AG69

249575AG6

CAD300,000,000

CAD Securities due 2025
Interpolated Mid-Swap
Rate

50 bps







DEPFA ACS Bank
4.900% ACS Instruments
due 2035

CA249575AJ09

249575AJ0

CAD350,000,000

CAD Securities due 2035
Interpolated Mid-Swap
Rate

85 bps

The relevant Purchase Price for each series of Securities will be determined as set out in the Tender Offer Memorandum with reference to the relevant Fixed Spread and Benchmark Rate. Accrued Interest will be paid in addition to the relevant Purchase Price.

Rationale for the Offers

The Offeror aims to enhance the unwinding of DEPFA Bank plc and its subsidiaries by purchasing outstanding DEPFA group covered bonds and notes to manage and optimize the liabilities of the DEPFA group. For more information, please refer to the Tender Offer Memorandum.

Indicative Timetable (all times NYC)

Date and Time

Action

11:00 a.m. on February 1, 2016

Price Determination

5:00 p.m. on February 1, 2016

Expiration

February 2, 2016

Announcement of Results

February 4, 2016 (expected)

Settlement

Further Information

Holders may access the Tender Offer Memorandum and the relevant form of notice of guaranteed delivery (as described in the Tender Offer Memorandum) at http://www.lucid-is.com/depfa

Requests for information in relation to the Offers should be directed to:

DEALER MANAGER
Deutsche Bank Securities Inc.
+1 (212) 250 2955 / +44 20 7545 8011
liability.management@db.com

GLOBAL TENDER AGENT
Lucid Issuer Services Limited
+44 20 7704 0880
Email: depfa@lucid-is.com 

CANADIAN TENDER AGENT
Equity Financial Trust Company
+1 416-607-7889
Email: TMXEcorporateactions@tmx.com

1 The Principal Amount Outstanding of the Securities is as stated on Bloomberg as of January 18, 2016.  

SOURCE FMS Wertmanagement AoR