OLB successfully optimizes its capital structure by its first issuance of a EUR 170 million Tier 2 bond
Strong investor demand leading to a successful debut for OLB in the Tier 2 space
Strong investor demand leading to a successful debut for OLB in the Tier 2 space
Oldenburgische Landesbank AG (OLB) successfully placed its first Tier 2 bond on the capital market on Wednesday, 17 January 2024. The 10.25NC5.25 bond with a final size of 170 million euros was very well received by investors and 1.6times oversubscribed. After two days of roadshow and positive feedback from core investors OLB decided to move ahead on Wednesday.
"With our successful inaugural Tier 2 issuance, we have set another important milestone in our capital market presence. With our first Covered Bond and AT1 in 2021, followed by another Covered Bond in 2022, our inaugural Senior Preferred in 2023 and the new Tier 2 we now have access to the full range of refinancing and capital instruments. Sub-benchmark issuances are particularly challenging, for issuers as well as for institutional investors. We are proud and honored that more than 35 investors trusted us again and continue to support our sustainable and highly profitable growth path at OLB. We are committed to be a reliable partner for our investors and over time become an even more regular issuer across the funding and capital space. The strong demand reflects the investors' confidence in OLB's performance and prospects, and I am once more very pleased with the result", says Rainer Polster, Chief Financial Officer of OLB.
The bank syndicate for the issue, rated Ba1 (positive outlook) by Moody's, was led by Deutsche Bank, Goldman Sachs Bank Europe SE and UBS Investment Bank as Joint Bookrunners.
About OLB
OLB is a widely diversified universal bank with a nationwide presence and more than 150 years of experience in the core region of north-west Germany. Under the OLB and Bankhaus Neelmeyer brands, the Bank advises its approximately 1 million customers in the Private & Business Customers and Corporates & Diversified Lending segments in person and via digital channels. OLB has total assets of more than EUR 30 billion, making it a significant financial institution in Europe.
Feel free to visit us at www.olb.de and www.neelmeyer.de as well as on Facebook, Instagram and YouTube.
Contact
Sandra Büschken
Phone: (+49) 69 756193 36
E-Mail: sandra.bueschken@olb.de
Matthias Obst
Telefon: +49 (0)69 756193 44
E-Mail: matthias.obst@olb.de
Britta Silchmüller
Phone: +49 (0)441 221 1213
E-Mail: britta.silchmueller@olb.de
Timo Cyriacks
Phone: +49 (0)441 221 1781
E-Mail: timo.cyriacks@olb.de
Disclaimer
This information does not contain any offer to acquire or subscribe for securities, nor should it be construed as an invitation to do so. The opinions expressed herein reflect our current assessment, which is subject to change even without prior notification.
The information contained in this presentation includes financial and similar information which is neither audited nor finally reviewed and should be considered preliminary and subject to change. Likewise, this document does not, either in whole or in part, constitute a sales prospectus or any other stock exchange prospectus. The information contained in this document therefore merely provides an overview and should not form the basis of an investor’s potential decision to purchase or sell the securities.
This document has been prepared and published by Oldenburgische Landesbank AG, Oldenburg. The information has been carefully researched and is based on sources deemed to be reliable by Oldenburgische Landesbank AG. However, the information may no longer be up-to-date and may be obsolete by the time you receive this document. Furthermore, it cannot be ensured that the information is correct and complete. Oldenburgische Landesbank AG therefore assumes no liability for the contents of the information.
In addition, this document contains various forward-looking statements and information based on the management’s beliefs and on assumptions and information currently available to the management of Oldenburgische Landesbank AG. Considering the known and unknown risks associated with the business of Oldenburgische Landesbank AG as well as uncertainties and other factors, the future results, performances and outcomes may differ from those deduced from such forward-looking or historical statements. The forward-looking statements speak only as of the date of this document. Oldenburgische Landesbank AG expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations with regard thereto or any changes in events, conditions or circumstances on which any forward-looking statements are based. Any persons receiving this document should not give undue influence to such historical statements and should not rely on such forward-looking statements.
This document also contains certain financial measures that are not recognized under IFRS or German GAAP (“HGB”). These alternative performance measures are presented because Oldenburgische Landesbank AG believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating its operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS, HGB or other generally accepted accounting principles.