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Oldenburgische Landesbank AG: Issuance of Weser Funding No. 3

·3-min read

DGAP-News: Oldenburgische Landesbank AG / Key word(s): Funds
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:

Issuer:

Weser Funding S.A., acting in respect of its Compartment No. 3

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:

€ 255.7 million

ISIN:

XS2351351163

Interest Rate:

0.40% p.a.

Expected Ratings:

at issuance: Aa (sf) by Moody's and A (sf) by DBRS

  

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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