Hogan Lovells Advises FMS Wertmanagement and DEPFA Bank plc on Tender Offer and Consent Solicitation for DEPFA Preferred Securities

Hogan Lovells has advised FMS Wertmanagement AöR (FMS-WM) and DEPFA Bank plc. (DEPFA) in connection with the tender offer by FMS-WM and the consent solicitation by DEPFA regarding certain preferred securities guaranteed by DEPFA with a total nominal amount (liquidation preference) of EUR 1,200,000,000. The tender offer by FMS-WM and the consent solicitation by DEPFA have been launched on 20 April 2015.

A multidisciplinary, cross-border Hogan Lovells team has provided legal advice on the tender offer and consent solicitation to FMS-WM and DEPFA. This transaction follows the acquisition of DEPFA by FMS-WM on which Hogan Lovells also advised FMS-WM in Autumn 2014.

The Hogan Lovells team advising FMS-WM and DEPFA on this matter was led by Frankfurt corporate partner Tim Brandi and London debt capital markets partner Andrew Carey with assistance from a cross-border team in London, Frankfurt, Düsseldorf and Hamburg.

Commenting on the transaction, Andrew Carey said:

"We are delighted and honoured to have been instructed by FMS-WM and DEPFA on this important and complex liability management exercise".

Tim Brandi added:

"We thoroughly enjoyed working closely with the excellent legal teams at FMS-WM and DEPFA".

The FMS-WM and DEPFA legal teams were led by Dr. Peter Schad, Dr. Nico Zachert and Nick Pheifer.


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