Hamburg Commercial seeks consents from subordinated noteholders

Chicago, Feb. 13 – Hamburg Commercial Bank AG is seeking consents from its subordinated noteholders to maintain the eligibility of the notes as tier 2 instruments, according to an announcement.

A consent fee of 0.5% of the outstanding principal amount will be payable to noteholders who deliver consent instructions in favor of the relevant extraordinary resolution by 11 a.m. ET on Feb. 24. Payment of the consent fee is expected five business days after the relevant meeting.

Quorums are needed at each of the meetings. Meetings may be adjourned for lack of a quorum.

The expiration deadline is 11 a.m. ET on March 10.

Meetings will be held starting at 6 a.m. ET on March 14 at the offices of Mayer Brown International in London.

The structuring adviser and solicitation agent is UBS AG London Branch (+44 20 7568 1121, ol-liabilitymanagement-eu@ubs.com).

The solicitation agents are CaixaBank, SA (+34 91 700 56 09 / 10, 1st.caixabank.lm@caixabank.com) and Landesbank Baden-Wurttemberg (+49 711 127 28682, EMTN@LBBW.de).

The tabulation agent is Kroll Issuer Services Ltd. (+44 20 7704 0880, https://deals.is.kroll.com/hcob).

Notes

The following notes are listed in the consent solicitation:

• €20 million subordinated fixed-rate notes issued by Hamburgische Landesbank - Girozentrale due June 29, 2029 (ISIN: XS0098835761);

• €64 million subordinated floating-rate notes issued by Landesbank Schleswig-Holstein Girozentrale due January 2030 (ISIN: XS0105720881);

• €70 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due October 2030 (ISIN: XS0119368222);

• €50 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due October 2030 (ISIN: XS0119368495);

• €50 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due October 2030 (ISIN: XS0119436326);

• €50 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due November 2030 (ISIN: XS0120017974);

• €50 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due November 2030 (ISIN: XS0120635809);

$18.4 million subordinated floating-rate notes issued by Landesbank Schleswig-Holstein Girozentrale due December 2030 (ISIN: XS0122546442);

• €5 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due December 2030 (ISIN: XS0123007279);

• €35 million subordinated fixed-rate notes issued by Hamburgische Landesbank - Girozentrale due Dec. 6, 2030 (ISIN: XS0121146137);

• $25 million subordinated floating-rate notes issued by Landesbank Schleswig-Holstein Girozentrale due February 2031 (ISIN: XS0124807099);

• €16 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due February 2031 (ISIN: XS0121531122);

• €20 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due July 2031 (ISIN: XS0133159227);

• €50 million subordinated fixed-rate notes issued by Hamburgische Landesbank - Girozentrale due April 26, 2038 (ISIN: XS0096688881) of which there is €42.5 million outstanding;

• €86 million subordinated floating-rate notes issued by Landesbank Schleswig-Holstein Girozentrale due November 2039 (ISIN: XS0104723266) of which there is €80 million outstanding;

• $22.73 million subordinated floating-rate notes issued by Landesbank Schleswig-Holstein Girozentrale due January 2040 (ISIN: XS0122825754);

• €80 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due October 2040 (ISIN: XS0119502994); and

• €92 million subordinated floating-rate notes issued by Hamburgische Landesbank - Girozentrale due January 2041 (ISIN: XS0122667230).

Landesbank Schleswig-Holstein Girozentrale is a bank based in Kiel, Germany. Hamburg Commercial is a commercial bank with headquarters in Hamburg and Kiel.

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