2009- Aareal Bank received a Silent Participation
In 2009, Aareal Bank received a Silent Participation of
EUR 525mn and a guarantee facility of up to EUR 4bn.
In 2012, Aareal redeemed the last SoFFin-guaranteed
bond issue. In 2010 and 2011, Aareal repaid EUR
150mn and EUR 75mn of the Silent Participation. The
bank always paid the coupon of 9% on the Silent
Participation. It is the stated goal of the bank to
substitute the government’s silent participation by
issuing CRR/CRD IV-compliant Additional Tier I
instruments, once the respective compliance criteria
have been finalised.