DGAP-News

Consent Solicitation

DGAP-News: IKB Deutsche Industriebank AG / Key word(s): Miscellaneous Consent Solicitation 01.06.2017 / 17:25 The issuer is solely responsible for the content of this announcement. Press Release (only English version available)

Dated 1 June 2017

IKB Funding Trust II
(an indirect wholly-owned subsidiary of IKB Deutsche Industriebank Aktiengesellschaft, Düsseldorf, Germany (the "Bank")) has issued a Solicitation of Consents (the "Consent Solicitation") to Certain Amendments (the "Proposed Amendment")to IKB Funding Trust II's Amended and Restated Trust Agreement (the "Trust Agreement") relating to EUR400,000,000 Noncumulative Trust Preferred Securities (with an aggregate outstanding Liquidation Preference Amount of EUR400,000,000) (the "Securities")

(ISIN: XS0194701487; Common Code: 019470148; Dutch Security Code (Fonds Code): 14826; German Security Code (WKN): A0BDRX)

 

The Consent Solicitation will expire at 5:00 p.m., Central European Summer Time, on 26 June 2017 (such time and date, as the same may be extended or earlier terminated, the "Expiration Time"). Consents may not be revoked at any time, except under certain limited circumstances. If the Requisite Consents (as defined below) are obtained by the Expiration Time, we expect that the Proposed Amendment to the Trust Agreement will be signed as soon as the Requisite Consents are received and will become effective promptly after the Expiration Time. The Consent Solicitation is only being made to existing holders of the Securities on the record date of 31 May 2017.

 

It is a condition to our completion of the Proposed Amendment that we have received valid consents from holders of at least a simple majority in liquidation amount of the Securities at the time outstanding (the "Requisite Consents").

A beneficial owner wishing to participate in the Consent Solicitation and who holds an interest in Securities through a broker, dealer, bank, custodian, trust company or other nominee must properly instruct such broker, dealer, bank, custodian, trust company or other nominee to arrange for their direct participant in Euroclear or Clearstream, as applicable, through which they hold the relevant Securities to deliver a Consent to the relevant Clearing System to cause a Consent to be given in respect of such Securities on such beneficial owner's behalf at or prior to the Expiration Time.