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IKB Deutsche Industriebank AG: IKB still supports Public Debt Tender by LSF6 Rio to purchase Capital Notes and Hybrid Notes
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0 KommentareDGAP-News: IKB Deutsche Industriebank AG / Key word(s): Miscellaneous
IKB Deutsche Industriebank AG: IKB still supports Public Debt Tender by LSF6
Rio to purchase Capital Notes and Hybrid Notes
02.02.2016 / 18:30
The issuer is solely responsible for the content of this announcement.
IKB Deutsche Industriebank AG: IKB still supports Public Debt Tender by LSF6
Rio to purchase Capital Notes and Hybrid Notes
02.02.2016 / 18:30
The issuer is solely responsible for the content of this announcement.
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IKB still supports Public Debt Tender by LSF6 Rio to purchase Capital Notes
and Hybrid Notes
[Düsseldorf, 2 February 2016] LSF6 Rio S.à.r.l. is extending its offer to
purchase the notes issued by Capital Raising GmbH (ISIN: DE 0007490724,
"Capital Notes") and the notes issued by Hybrid Raising GmbH (ISIN: DE
000A0AMCG6, "Hybrid Notes"), (together "the Notes"). IKB still supports the
offer. Based on the purchase price of 20% of the nominal value that
represents a premium of about 8% of nominal value on stock exchange prices
before the offer was made on 13 January 2016, IKB believes that the offer
represents an attractive opportunity to holders of the Notes. According to
LSF6 Rio S.à.r.l., even before the original deadline for the offer, it
already received declarations of acceptance for such number of notes which
will increase its holdings in each of the Hybrid and Capital Notes to more
than two thirds after the offer is settled.
Capital Raising GmbH issued the Capital Notes in 2002 with a total volume
of EUR 200 million. Hybrid Raising GmbH issued the Hybrid Notes in 2004
with a total volume of EUR 200 million. The Notes have economically
participated in losses of IKB and for the last time received interest
payments in July 2007. The repayment value of the Notes was reduced to EUR
0.00 as of 31 March 2012 and has remained at that level since.
Servicing the compensation agreements of a total amount of EUR 1,151.5
million and the value recovery rights of the hybrid investors means that
IKB AG will probably not report any, or only minimal, profit for a long
time to come, even if results are positive. In addition, to the extent that
net income can be reported in future, the reduction of net accumulated
losses means that it will not be possible to replenish the Notes, pay
interest on the Notes or distribute a dividend to the shareholders of IKB
AG.
Following the extension, the acceptance period of the offer will expire on
29 February 2016 at 4.00 p.m. (CET), unless extended again by the
purchaser. Noteholders who wish to tender their Notes should contact their
bank or custodian institution. Further information is available on
www.ikb-tender.de.
IKB does not make any recommendation that noteholders should tender their
Notes or refrain from doing so pursuant to the offer. Nothing in this press
release is, or shall be relied upon as, an investment advice or a legal
advice. Noteholders should consider consulting their professional advisors.
Contact:
Dr Jörg Chittka, tel.: +49 211 8221-4349;
Armin Baltzer, tel.: +49 211 8221-6236, e-mail: presse@ikb.de
IKB Deutsche Industriebank AG supports medium-sized enterprises in Germany
and Europe with loans, risk management, capital market services and
advisory services.
---------------------------------------------------------------------------
02.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: IKB Deutsche Industriebank AG
Wilhelm-Bötzkes-Straße 1
40474 Düsseldorf
Germany
Phone: +49 (0)211 8221-4511
Fax: +49 (0)211 8221-2511
E-mail: investor.relations@ikb.de
Internet: www.ikb.de
ISIN: DE0008063306
WKN: 806330
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Stuttgart; Open Market (Entry Standard) in
Frankfurt
End of News DGAP News Service
---------------------------------------------------------------------------
434267 02.02.2016
IKB still supports Public Debt Tender by LSF6 Rio to purchase Capital Notes
and Hybrid Notes
[Düsseldorf, 2 February 2016] LSF6 Rio S.à.r.l. is extending its offer to
purchase the notes issued by Capital Raising GmbH (ISIN: DE 0007490724,
"Capital Notes") and the notes issued by Hybrid Raising GmbH (ISIN: DE
000A0AMCG6, "Hybrid Notes"), (together "the Notes"). IKB still supports the
offer. Based on the purchase price of 20% of the nominal value that
represents a premium of about 8% of nominal value on stock exchange prices
before the offer was made on 13 January 2016, IKB believes that the offer
represents an attractive opportunity to holders of the Notes. According to
LSF6 Rio S.à.r.l., even before the original deadline for the offer, it
already received declarations of acceptance for such number of notes which
will increase its holdings in each of the Hybrid and Capital Notes to more
than two thirds after the offer is settled.
Capital Raising GmbH issued the Capital Notes in 2002 with a total volume
of EUR 200 million. Hybrid Raising GmbH issued the Hybrid Notes in 2004
with a total volume of EUR 200 million. The Notes have economically
participated in losses of IKB and for the last time received interest
payments in July 2007. The repayment value of the Notes was reduced to EUR
0.00 as of 31 March 2012 and has remained at that level since.
Servicing the compensation agreements of a total amount of EUR 1,151.5
million and the value recovery rights of the hybrid investors means that
IKB AG will probably not report any, or only minimal, profit for a long
time to come, even if results are positive. In addition, to the extent that
net income can be reported in future, the reduction of net accumulated
losses means that it will not be possible to replenish the Notes, pay
interest on the Notes or distribute a dividend to the shareholders of IKB
AG.
Following the extension, the acceptance period of the offer will expire on
29 February 2016 at 4.00 p.m. (CET), unless extended again by the
purchaser. Noteholders who wish to tender their Notes should contact their
bank or custodian institution. Further information is available on
www.ikb-tender.de.
IKB does not make any recommendation that noteholders should tender their
Notes or refrain from doing so pursuant to the offer. Nothing in this press
release is, or shall be relied upon as, an investment advice or a legal
advice. Noteholders should consider consulting their professional advisors.
Contact:
Dr Jörg Chittka, tel.: +49 211 8221-4349;
Armin Baltzer, tel.: +49 211 8221-6236, e-mail: presse@ikb.de
IKB Deutsche Industriebank AG supports medium-sized enterprises in Germany
and Europe with loans, risk management, capital market services and
advisory services.
---------------------------------------------------------------------------
02.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: IKB Deutsche Industriebank AG
Wilhelm-Bötzkes-Straße 1
40474 Düsseldorf
Germany
Phone: +49 (0)211 8221-4511
Fax: +49 (0)211 8221-2511
E-mail: investor.relations@ikb.de
Internet: www.ikb.de
ISIN: DE0008063306
WKN: 806330
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hanover, Stuttgart; Open Market (Entry Standard) in
Frankfurt
End of News DGAP News Service
---------------------------------------------------------------------------
434267 02.02.2016
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