OLB very successfully places first issue of a senior preferred bond in the amount of EUR 350 million

Oldenburgische Landesbank (OLB) successfully placed its first senior preferred bond on the capital market on Tuesday, 24 January 2023, further diversifying its refinancing base. The three-year bond with a volume of 350 million euros was very well demanded by investors and exceeded expectations. The inaugural bond was widely distributed among more than 70 investors. Around two thirds of the bond volume was placed internationally, one third with investors in Germany.

The bank syndicate for the issue, rated Baa2 (positive outlook) by Moody's, was led by Barclays, BNP, Deutsche Bank, Goldman Sachs and UniCredit Group. The final spread was 270 basis points above swap midpoint.

"With the successful senior preferred issue, we have set another successful milestone in our capital market presence. For institutional investors, we are thus becoming a reliable and regular issuer. The high demand reflects the investors' confidence in OLB's performance and prospects, and I am very pleased with the result," says Rainer Polster, Chief Financial Officer of OLB.