The EAA Investor Relations Press Contact DE EN Challenges Solid refinancing The EAA is active on the international market with its own bonds. This is part of the EAA’s Business model, namely to refinance the assumed portfolio with debt. For instance, the winding-up agency has more than just assets on its balance sheet, such as participations, loans, securities or derivatives. It also has corresponding liabilities for nearly the same amount, which have to be serviced when they become due. The EAA can be successful only if it optimises its funding to the same extent as it winds up its assets. In this regard, avoiding risks and keeping costs low are the Primary objective of the Treasury/Capital Markets. Key tasks in the refinancing process The EAA is an issuer of securities and operates on the capital market as an independent legal entity with its own rating for the purposes of refinancing and wind-up activities. The EAA commissions financial institutions to distribute its issues to suitable investors. The EAA’s management and Asset Liability Committee make strategic decisions regarding the issuing schedule, the issuing prospectus, markets and pricing, while the commissioned financial institutions act as consultants. Prior to conducting an issuance, the EAA calculates its liquidity needs in preparation for the strategic and operational decision-making process. When doing so, it factors in the maturity structure of liabilities as well as the inflow of liquidity from the repayment of assets. The EAA draws up a long-term issuing strategy, which is regularly reviewed – supported by consultations with banks and feedback from investors – and then modified if necessary. The documentation for the issuing prospectuses is prepared jointly with the commissioned financial institutions and external legal advisors. The EAA Task Self-Understanding Challenges A EUR 77.5 billion startup An additional set of tasks in 2012 Sold refinancing Statutory basis System Governance structure Performance Career Objectives Public Contracting Contact Erste Abwicklungsanstalt Friedrichstraße 84 40217 Düsseldorf Tel.: +49 211 91345 780 Fax: +49 211 91345 789 E-Mail: info@aa1.de Contact Press Cosima Rauner Public Relations Tel: +449 211 91345 790 E-Mail: cosima.rauner@aa1.de or presse@aa1.de Top-Links Charter Financial Reports Press Legal Privacy Policy Individual privacy settings Cookie details Privacy policy