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.

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FMS Wertmanagement AoR

Jan 19, 2016, 04:36 ET

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
[email protected]

GLOBAL TENDER AGENT
Lucid Issuer Services Limited
+44 20 7704 0880
Email: [email protected]

CANADIAN TENDER AGENT
Equity Financial Trust Company
+1 416-607-7889
Email: [email protected]

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

SOURCE FMS Wertmanagement AoR