OSB GROUP PLC Onesavings Bank Plc - Proposed Redemption Of Gbp22,000,000 Perpetual Subordinated Bonds
30 7월 2021 - 6:19PM
UK Regulatory
TIDMOSB
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION NO 596/2014, AS IT FORMS PART OF
THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN
(WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION OR WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION
FOR IMMEDIATE RELEASE
LEI: 213800WTQKOQI8ELD692
Date: 30 July 2021
OneSavings Bank plc
(the "Company")
Proposed redemption by the Company of GBP22,000,000 Perpetual
Subordinated Bonds (ISIN: GB00B61ZXL72 (the "Bonds"))
The Company has today notified the Law Debenture Trust
Corporation P.L.C (in its capacity as Trustee under the Bonds) and
Equiniti Limited (in its capacity as Agent under the Bonds) of its
intention to redeem the Bonds on 7 September 2021 pursuant to their
terms and conditions (the "Conditions") (the "Proposed
Redemption").
The Prudential Regulation Authority has granted the Company
permission to carry out the Proposed Redemption. Any decision to
carry out the Proposed Redemption remains subject to final approval
by the Company's Board of Directors and will be effected in
accordance with the Conditions.
Enquiries:
OneSavings Bank plc
Alastair Pate t: +44 0771 418 1864
Group Head of Investor Relations
Jens Bech
Group Commercial Director t: +44 0774 024 7473
Brunswick
Robin Wrench/Simone Selzer t: +44 020 7404 5959
Notes to Editors
About OSB GROUP PLC
OneSavings Bank plc (OSB) began trading as a bank on 1 February
2011 and was admitted to the main market of the London Stock
Exchange in June 2014 (OSB.L). OSB joined the FTSE 250 index in
June 2015. On 4 October 2019, OSB acquired Charter Court Financial
Services Group plc (CCFS) and its subsidiary businesses. On 30
November 2020, OSB GROUP PLC became the listed entity and holding
company for the OSB Group. OSB is a specialist lender and retail
savings provider authorised by the Prudential Regulation Authority,
part of the Bank of England, and regulated by the Financial Conduct
Authority and Prudential Regulation Authority. The OSB Group
reports under two segments, OneSavings Bank and Charter Court
Financial Services.
OneSavings Bank
OneSavings Bank primarily targets market sub-sectors that offer
high growth potential and attractive risk-adjusted returns in which
it can take a leading position and where it has established
expertise, platforms and capabilities. These include private rented
sector Buy-to-Let, commercial and semi-commercial mortgages,
residential development finance, bespoke and specialist residential
lending, secured funding lines and asset finance.
OSB originates mortgages organically via specialist brokers and
independent financial advisers through its specialist brands
including Kent Reliance for Intermediaries and InterBay Commercial.
It is differentiated through its use of highly skilled, bespoke
underwriting and efficient operating model.
OSB is predominantly funded by retail savings originated through
the long-established Kent Reliance brand, which includes online and
postal channels as well as a network of branches in the South East
of England. Diversification of funding is currently provided by
securitisation programmes, the Bank of England's Term Funding
Scheme and Term Funding Scheme for SMEs.
Charter Court Financial Services (CCFS)
CCFS focuses on providing Buy-to-Let and specialist residential
mortgages, mortgage servicing, administration and retail savings
products. It operates through its brands: Precise Mortgages and
Charter Savings Bank.
It is differentiated through risk management expertise and
best-of-breed automated technology and systems, ensuring efficient
processing, strong credit and collateral risk control and speed of
product development and innovation. These factors have enabled
strong balance sheet growth whilst maintaining high credit quality
mortgage assets.
CCFS is predominantly funded by retail savings originated
through its Charter Savings Bank brand. Diversification of funding
is provided by securitisation programmes and the Bank of England
funding schemes including, the Term Funding Scheme and the Term
Funding Scheme for SMEs.
(END) Dow Jones Newswires
July 30, 2021 05:19 ET (09:19 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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