DGAP-Adhoc

DEPFA ACS BANK: Proposed Tender Offer for Preferred Securities

DEPFA ACS BANK / Key word(s): Tender Offer

20.04.2015 16:35

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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STOCK EXCHANGE ANNOUNCEMENT

NOT FOR DISTRIBUTION IN OR INTO ANY PERSON LOCATED OR RESIDENT IN ANY
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

Ad Hoc Announcement - For immediate release

RE: Proposed Tender Offer for Preferred Securities

Issued on behalf of the following companies and limited partnerships in
respect of their listed debt:

DEPFA BANK PLC / DEPFA ACS BANK / DEPFA FUNDING III LP (ISIN: DE000A0E5U85)


Dublin, 20 April 2015 - Further to the Ad Hoc Announcement of 14 January
2015, FMS Wertmanagement AöR ("FMS-WM"), the parent company of DEPFA BANK
plc ("DEPFA") has today launched tender offers (the "Offers") in respect of
the following securities:

EUR400,000,000 6.50 per cent. Guaranteed Non-voting Non-cumulative
Perpetual Preferred Securities issued in two tranches of EUR300,000,000 on
30 October 2003 and EUR100,000,000 on 9 February 2004 by DEPFA Funding II
LP (ISIN: XS0178243332);

EUR300,000,000 Fixed Rate/Variable Rate Guaranteed Non-voting
Non-cumulative Perpetual Preferred Securities issued on 8 June 2005 by
DEPFA Funding III LP (ISIN: DE000A0E5U85); and

EUR500,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting
Non-cumulative Perpetual Preferred Securities issued on 21 March 2007 by
DEPFA Funding IV LP (ISIN: XS0291655727),

each guaranteed by DEPFA (together, the "Preferred Securities") and each
governed by the terms of a limited partnership agreement (each, a "Limited
Partnership Agreement").

In conjunction with the Offers, DEPFA, as general partner of DEPFA Funding
II LP, DEPFA Funding III LP and DEPFA Funding IV LP, is undertaking consent
solicitations (the "Consent Solicitations") in relation to each of the
Preferred Securities. Further information on and the terms and conditions
of the Offers and the Consent Solicitations are set out in a tender offer
and consent solicitation memorandum (the "Tender Offer and Consent
Solicitation Memorandum").

All required regulatory consents for the transactions contemplated by the
Offers and the Consent Solicitations have now been obtained.