DGAP-News: Oldenburgische Landesbank AG / Key word(s): Funds Oldenburgische Landesbank AG: Issuance of Weser Funding No. 3 06.07.2021 / 09:00 The issuer is solely responsible for the content of this announcement. Oldenburg, July 6th, 2021 Issuance of Weser Funding No. 3 Oldenburgische Landesbank AG (OLB Bank) will launch the third listed issuance under its securitisation platform Weser Funding S.A.. The senior notes will be backed by a granular portfolio of primarily German corporate loans in an amount of up to EUR 400 million. Analogous to the previous transactions 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:
Scope of Issuance:
The transaction includes a Subordinated Note in an amount of € 147 million (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. Portfolio composition, credit enhancement as well as cash reserves are sized in an amount that the transaction can withstand even strongly adverse economic scenarios. Closing is anticipated for July 7th, 2021. About 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 22 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 and YouTube. Contacts: 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 persons: Britta Silchmüller Corporate Communications Phone +49 (0)441 221-1213 britta.silchmueller@olb.de Timo Cyriacks Corporate Communications Phone +49 (0)441 221-1781 timo.cyriacks@olb.de 06.07.2021 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 |
Language: | English |
Company: | Oldenburgische Landesbank AG |
Stau 15-17 | |
26122 Oldenburg | |
Germany | |
Phone: | 0441-2 21 - 0 |
Fax: | 0441-2 21 - 14 57 |
E-mail: | olb@olb.de |
Internet: | www.olb.de |
ISIN: | DE0008086000 |
WKN: | 808600, A0XE6Q, A0XE6W, A0Z2V7, A0Z2WC, A1EL8K, A1R0ZD, A1R0ZG, A1R0ZH, A1R0ZJ, A11QJK |
Listed: | Regulated Market in Hamburg |
EQS News ID: | 1214965 |
End of News | DGAP News Service |
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1214965 06.07.2021