DDE Develica

 

TIDMDDE 
 
RNS Number : 3468T 
Develica Deutschland Ltd 
04 June 2009 
 

 
 
 
FOR IMMEDIATE RELEASE 
4 June 2009 
 
 
DEVELICA DEUTSCHLAND LIMITED: 
("DDL", or "The Company") 
INTEREST RATE SWAPS 
 
 
Further to the announcement regarding the Citi waiver the Board is now providing 
an update on the position of the Company's interest rate swaps. The unaudited 
fair value adjustment of DDL's interest rate swaps as at 31 March 2009 showed a 
loss of EUR65.4m and it is estimated that as of 2 June 2009 the current fair value 
adjustment value has reduced that loss to nearer EUR63m. 
 
The Board would like to emphasise that the value of the interest rate swaps has 
no cash impact on the Company or on its debt covenants and that the swaps are 
held at an SPV level and would only crystallise on a disposal. 
 
 
The Board intends to advise shareholders further on the current fair value 
adjustment of the interest rate swaps in the Company's final year end results 
which are expected to be announced in July. 
 
 
 
 
Ends. 
 
 
Contact: 
 
 
    Derek Butler, Chairman, Develica.     Tel: 020 7016 1860 
    Baron Phillips, Baron Phillips Associates.     Tel: 020 7920 3161 
                                                      07767 444193 
    Philip Secrett, Grant Thornton UK LLP    Tel: 020 7728 2578 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 FUREAXKLEFPNEEE 
 

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