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Aareal Bank concludes partial repurchase of the remaining SoFFin-Guaranteed Notes

Notes in the amount of 785 mn € repurchased / Thomas Ortmanns: "We are highly satisfied with the result".

 

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  • Notes in the amount of 785 mn € repurchased
  • Thomas Ortmanns: "We are highly satisfied with the result".

Wiesbaden, 11 July 2011 – Aareal Bank has successfully taken a further step towards returning the issue guarantees granted by the Financial Markets Stabilisation Fund (SoFFin). On July 1st, 2011 the international property specialist had invited noteholders of the remaining 2 bn € SoFFin-guaranteed note to tender for cash all outstanding guaranteed notes with the maturity date 26 March 2012. By the invitation deadline today, Aareal Bank had been offered guaranteed notes in the volume of approx. 785 mn €. Aareal Bank has accepted all notes tendered for repurchase.

The repurchase price was set at 100.816 % by using the interpolated 8-month/9-month EURIBOR rate minus 55 basis points. Thomas Ortmanns, the Management Board member responsible forCapital Markets explained: "We have started the repurchase process considering the good refinancing situation of Aareal Bank. We are highly satisfied with the result."

Disclaimer:

This announcement shall not constitute a purchase offer or a public call to sell securities in the United States of America (including its territories and possessions), Australia, Japan, Canada or to persons in the United Kingdom, Belgium, France or any other jurisdiction where it is unlawful to distribute this document.

The distribution of the Invitation Memorandum may be subject to legal restrictions in certain countries and territories. Aareal Bank AG, the Dealer Manager and the Tender Agent hereby call upon all persons who come into possession of the  Invitation Memorandum to inform themselves of such restrictions and to adhere to them.