IKB Funding Trust I
IKB Funding Trust I: IKB Funding Trust I’s consent solicitation expired without receiving requisite consents
IKB Funding Trust I / Key word(s): Miscellaneous Ad hoc Update: IKB Funding Trust I’s consent solicitation expired without receiving requisite consents Noncumulative Trust Preferred Securities / ISIN: DE0008592759 Wilmington, Delaware, USA on 4 December 2017 – As announced by ad hoc notification of 4 October 2017 (updated by ad hoc notification of 6 November 2017), IKB Funding Trust I (“Trust”) has intended to acquire all of the assets, and to assume all of the liabilities and obligations, of IKB Funding Trust Merger I (“Merger Trust”) by means of a merger of Merger Trust with and into the Trust. To permit Trust to enter into the merger, Trust has solicited consents of the holders of the Noncumulative Trust Preferred Securities (with an aggregate outstanding Liquidation Preference Amount of EUR 250,000,000), subsequently reduced to an aggregate outstanding Liquidation Preference Amount of EUR 75,068,000 (the “Securities”; the holders of such Securities the “Holders”) to modify the Trust Agreement. The consent solicitation expired on 4 December 2017 at 5:00 p.m. Central European Time. The requisite consents of more than 50% in liquidation amount were not received by that time.
04-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | IKB Funding Trust I |
1100 North Market Street | |
19890 Wilmington, DE | |
United States | |
ISIN: | DE0008592759 |
WKN: | 859275 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Hamburg, Stuttgart; Wien (Amtlicher Handel / Official Market) |
End of Announcement | DGAP News Service |