| DGAP-News: Oldenburgische Landesbank AG / Key word(s): Bond Issuance of Weser Funding No. 2 06.05.2020 / 09:00 The issuer is solely responsible for the content of this announcement.
Oldenburg, May 6, 2020 | Oldenburgische Landesbank AG (OLB Bank) will launch the second issuance under its securitisation platform Weser Funding S.A.. The two classes of fixed-rate notes will be backed by a granular portfolio of primarily German SME loans in an amount of up to EUR 1.3 billion. Analogous to the first transaction the structure will feature a revolving phase of up to three years, and it is designed to meet the collateral criteria of the European Central Bank for asset backed securities. The main parties to the transaction are: Issuer: Weser Funding S.A., acting in respect of its Compartment No. 2 Joint Lead Arrangers: Oldenburgische Landesbank AG and QuantFS GmbH Transaction Counsel: Hogan Lovells International LLP Account Bank and Data Trustee: Bank of New York Mellon, Frankfurt Branch Paying and Settlement Agent: The Bank of New York Mellon, London Branch Trustee: BNY Mellon Corporate Trustee Services Limited Corporate Administrator: MaplesFS (Luxembourg) S.A. Originator, Seller, Servicer: Oldenburgische Landesbank AG Monitor and Calculation Agent: QuantFS GmbH Scope of Issuance: Class A: € 726.7 million; with increase intention up to € 906.7 million ISIN: XS2156515848 Interest Rate: 0.40% p.a. Expected Ratings: at issuance: A2 (sf) by Moody's and A (sf) by DBRS Class B: € 52.6 million ISIN: XS2156516226 Interest Rate: 1.10% p.a. Expected Ratings: at issuance: Ba1 (sf) by Moody's and BBB (sf) by DBRS The transaction includes a Subordinated Note in an amount of € 328,780,883.33 (at issuance) which will be retained by OLB Bank in the context of the risk retention requirements under Article 6 of the EU Securitisation Regulation. The Subordinated Note will rise to an expected amount of € 349.3 million, if the transaction volume is increased from initially € 1.1 billion to € 1.3 billion of purchased receivables. Portfolio composition, credit enhancement as well as cash reserves are sized in an amount that the transaction can withstand even strongly adverse scenarios of potential coronavirus effects. Closing is anticipated for May 7th, 2020. | About the OLB Oldenburgische Landesbank AG (OLB) is a modern financial institution with its roots in northern Germany, serving its customers under the OLB Bank and Bankhaus Neelmeyer brands throughout Germany. The bank stands for modern services for private and business customers, including competent advisory services and complex financing solutions in private banking and wealth management, for tailor-made solutions in business with corporate and commercial customers, and for particular expertise in specialized lending. With total assets of around EUR 20 billion and equity of more than EUR 1 billion, the bank has a sustainable size and a sound financial position. You are also welcome to visit us at www.olb.de and www.neelmeyer.de as well as on Facebook, Instagram und YouTube. | Contact: | | | Oldenburgische Landesbank AG Corporate Communications Stau 15/17 26122 Oldenburg Germany Phone +49 (0) 441 221-1413 Fax +49 (0) 441 221-2425 pressestelle@olb.de | Your contact person: Britta Silchmüller Head of Corporate Communications Phone +49 (0) 441 221-1213 britta.silchmueller@olb.de |
06.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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