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Deutsche Börse To Issue 400 Million Euro In Commercial Paper - Highest Possible Short-Term Credit Ratings From Moody's And S&P

Date 26/06/2002

Deutsche Börse will issue up to 400 million Euro in Commercial Paper starting this Thursday to partly debt finance the acquisition of Cedel International. The biggest portion of the purchase price of 1.6 billion Euro for the outstanding 50 percent stake in Clearstream International plus 0.14 billion Euro for Cedel's remaining assets will be paid from existing cash balances from the IPO in February 2001 and from the successful private placement at the beginning of June 2002. There will be no additional capital increase for the Clearstream transaction. The demand for Deutsche Börse shares from the Cedel shareholders, who have accepted Deutsche Börse's offer with a one hundred percent acceptance quota, was lower than the minimum amount of two million shares, that was set in the offer.

On Wednesday Deutsche Börse also said it was assigned highest possible short-term credit ratings from Moody's and Standard & Poor's with P-1 and A-1+ respectively. Standard & Poor's has also assigned the company a first long-term rating of AA+. Moody's has reconfirmed the Aa1 long-term rating. The Commercial Paper Program was established at the end of last year. For back up purposes Deutsche Börse has mandated Deutsche Bank to arrange a 400 million Euro Syndicated Multi-Currency Revolving Credit Facility. More than a dozen banks joined the transaction in syndication.