DGAP-News

LSF6 Rio S.à r.l. has received acceptances of its ongoing cash tender offer which will result in an increase of its holding in each of the Hybrid Notes and Capital Notes to a controlling majority of more than 80%

LSF6 Rio S.à r.l. / Key word(s): Tender Offer

04.02.2016 19:10

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

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TENDER OFFER MEMORANDUM (AS DEFINED BELOW)

LSF6 Rio S.à r.l. has received acceptances of its ongoing cash tender offer
which will result in an increase of its holding in each of the Hybrid Notes
and Capital Notes to a controlling majority of more than 80%

Luxembourg, 4 February 2016. On 13 January 2016, LSF6 Rio S.à r.l.,
Luxembourg (the "Purchaser"), launched its offer to the holders of the
notes issued by Hybrid Raising GmbH (ISIN DE000A0AMCG6, "Hybrid Notes") and
the notes issued by Capital Raising GmbH (ISIN DE0007490724, "Capital
Notes") (together the "Notes") to purchase for cash any and all of the
Notes at a purchase price of 20% of the nominal value of the Notes (the
"Offer").

As at 4 February 2016, the Purchaser has received acceptances of the Offer
for such a number of Notes which will, upon settlement of the Offer,
increase its holding in each of the Hybrid Notes and Capital Notes to more
than 80%.

The Notes have economically participated in losses of IKB Deutsche
Industriebank AG and for the last time received interest payments in July
2007. The repayment value of the Notes has been reduced to EUR 0 as of 31
March 2012 and remained at the same level since. The Purchaser intends,
after completion of the Offer, to propose to the Issuers that they convene
noteholders' meetings to resolve a termination and repayment of the Notes
at a restructuring payment of 12.5% of the nominal value (the
"Restructuring Payment").

Resolutions to change the terms of the Notes require a majority of 75% of
the votes cast. Upon completion and settlement of the Offer, the Purchaser
will own enough Notes to control the outcome of any resolutions regarding
the Notes. If the aforementioned restructuring is resolved and implemented,
which implementation requires the approval of the Issuers, it would be
binding on all Noteholders, including on those who have voted against it in
a noteholders' meeting.

The Purchaser has obtained a fairness opinion from one of the four largest