Deutsche Pfandbriefbank AG / Agreement
21.12.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Munich, 21 December 2009 Deutsche Pfandbriefbank AG
SoFFin, Hypo Real Estate Group (HRE) and German financial consortium agree
on restructuring the liquidity support facility for HRE in the amount of
approx. EUR 43 billion:
The German Financial Markets Stabilisation Fund ('SoFFin'), HRE and a
German financial sector consortium have agreed on restructuring HRE's
liquidity facility implemented in November 2008, in an original volume of
EUR 50 billion. The outstanding volume was reduced to EUR 43 billion due to
repayments made during 2009. The new liquidity facility was agreed upon in
this amount, of which a consortium comprising German financial institutions
and insurance companies has subscribed to approx. EUR 23 billion. The draw
down is planned for December 23, 2009, subject to usual drawing
preconditions. In an amount of EUR 20 billion Deutsche Pfandbriefbank AG
will issue securities which will be refinanced to some extent with central
banks - as in the past - and increasingly on the market. The facility will
be fully collateralised through SoFFin guarantees expiring on 22 December
2010. Accordingly, EUR 35 billion in German Government guarantees as well
as a collateral portfolio originally pledged in an aggregate amount of
approx. EUR 60 billion will be released.
The restructuring will reduce HRE's costs for obtaining liquidity. The
securities subscribed by the consortium will bear interest at Euribor +
0.10% p.a. HRE will pay to SoFFin a pro-rata commitment commission of 0.10%
p.a. on the undrawn portion, and a 0.50% p.a. fee on guarantees drawn upon.
Repayments have reduced the original framework guarantee - granted to
support the Group in an aggregate volume of EUR 102 billion - to EUR 95
billion. This figure includes EUR 52 billion in existing SoFFin guarantees,
which will expire by the end of June 2010.
Kontakt:
Reiner Barthuber +49 (0) 89 2880 28 201
21.12.2009 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Deutsche Pfandbriefbank AG
Freisinger Strasse 5
85716 Unterschleissheim
Deutschland
Phone: +49 (0) 89 2880 28 201
Fax: +49 (0) 89 2880 22 28 201
E-mail: info@pfandbriefbank.com
Internet: www.hyporealestate.com
ISIN: DE0008084047, DE0008127218, DE0008127226, DE0005463251, XS0303478118, DE 0008042904, DE0008124041, DE0008042946
WKN: 808404, 812721, 812722, 812404, 546325, A0NXMH, 804290, 804294, Eine vollständige Übersicht der Eigenemissionen der Hypo Real Estate Bank AG (ISIN, Börse,Segment) finden Sie unter:, http://www.hyporealestate.com/7923.php
Listed: Regulierter Markt in München, Düsseldorf, Stuttgart; Foreign
Exchange(s) London, Paris, Luxembourg, SWX
End of News DGAP News-Service
---------------------------------------------------------------------------