Update of confidential information on custom securitisation of the portfolio of CHF mortgage loans

With reference to current report No 34/2020 of 20 November 2020, Getin Noble Bank S.A. (“Bank”) hereby informs that it has completed the process of analysis of non-binding offers received from 11 investors. The declared demand from the investors has exceeded the level of issues expected by the Bank. At the same time, the Bank points out that the financial terms proposed in the offers have not fully reflected its expectations.

Moreover, because of other external factors concerning the current market environment, including the factors indicated by the arranger, it is significantly more difficult now to execute the transaction so that the economic effect assumed by the Bank is achieved.

Notwithstanding the above, the Bank will continue its efforts to execute the transaction of custom securitisation of the portfolio of CHF mortgage loans and it is planning to shortly re-submit the proposal to participate in this type of transaction to potential investors, maintaining the reservations according to which the success of the transaction, including the achievement of the expected impact on capital ratios, depends on external factors which are numerous and beyond the Bank’s control and which, due to the current environment, are difficult to predict.

In addition to the above, the Bank informs that after the non-binding offer analysis phase was completed, the agreement with the current transaction arranger was terminated.

Legal basis: Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse.