DGAP-News

Deutsche Pfandbriefbank AG: pbb Deutsche Pfandbriefbank launches flotation

DGAP-News: Deutsche Pfandbriefbank AG / Key word(s): IPO
Deutsche Pfandbriefbank AG: pbb Deutsche Pfandbriefbank launches
flotation

07.07.2015 / 18:27

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THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION IN
OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA.

pbb Deutsche Pfandbriefbank launches flotation
- Price range for pbb shares set to EUR 10.75 - EUR 12.75 per share

- Offer period expected to run from 8 July to 15 July 2015

- Intention to pay pro-rata dividend for 2015

- pbb redeems EUR 1 billion silent participation

Munich, 7 July 2015 - Investors will be offered shares in Deutsche
Pfandbriefbank AG (pbb), a leading European specialist bank for commercial
real estate finance and public investment finance, at a price between EUR
10.75 and EUR 12.75 per share, during a period starting on 8 July 2015 and
expected to last until 15 July 2015. Hypo Real Estate Holding AG (HRE),
pbb's owner, set the price range together with the syndicate banks and the
Federal Agency for Financial Market Stabilisation (FMSA). The shares will
be offered for subscription by way of public offers in Germany and
Luxembourg and through private placements in other jurisdictions (including
the USA, in accordance with Rule 144A of the US Securities Act of 1933).
The issue price will be determined based on a bookbuilding process.

The offer will comprise a maximum of 100,990,956 (75.1% of the share
capital) ordinary bearer shares with no-par value (Stückaktien) plus a
Greenshoe option of 6,589,289 shares (4.9% of the share capital) to cover a
potential over-allotment. The Federal Republic of Germany will continue to
maintain an indirect shareholding - via the German Financial Markets
Stabilisation Fund (Finanzstabilisierunsfonds) and HRE - amounting to a
minimum of 20.0%, but not exceeding 24.9%, for a two-year period.

The securities prospectus for the offer was approved by the German Federal
Financial Supervisory Authority (BaFin) on 7 July 2015, and is available on
pbb's website: www.pfandbriefbank.com.

pbb shares (trading symbol PBB / ISIN DE0008019001) are expected to
commence trading on 16 July 2015 in the Prime Standard segment of the
Regulated Market of the Frankfurt Stock Exchange. Going forward, pbb
intends to distribute 40 to 50 per cent of consolidated net income in