By Mary Katherine Stinson
Lexington, Ky., Jan. 18 – Oldenburgische Landesbank AG placed its inaugural tier 2 bond offering (Ba1) on the capital market on Jan. 17, according to a notice.
The €170 million of 10.25-year tier 2 notes come with 5.25 years of call protection.
According to the notice, the bond was 1.6x oversubscribed with more than 35 investors. The issue followed a two-day roadshow.
Deutsche Bank, Goldman Sachs Bank Europe SE and UBS Investment Bank were the bookrunners.
The new iss]uance joins the bank’s first covered bond and tier 1 issuance in 2021, a covered bond in 2022 and an inaugural senior preferred issue in 2023.
The issuer is a private financial institution based in Oldenburg, Germany.
| Issuer: | Oldenburgische Landesbank AG
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| Amount: | €170 million
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| Issue: | Tier 2 bonds
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| Maturity: | 10.25 years
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| Bookrunners: | Deutsche Bank, Goldman Sachs Bank Europe SE and UBS Investment Bank
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| Call features: | After 5.25 years
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| Settlement date: | Jan. 17
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| Ratings: | Moody’s: Ba1
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| Price talk: | 8½%-8¾% area
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| ISIN: | DE000A11QJR3
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