Closing of Canterbury Finance No.2 plc

LEI: 213800WTQKOQI8ELD692

OneSavings Bank plc ("OSB" or the "Group")

Closing of Canterbury Finance No.2 plc (the "Transaction")

OneSavings Bank plc (“OSB”) today announces that it has closed the Canterbury Finance No.2 securitisation. The fully retained transaction securitises £1bn of prime BTL mortgage assets originated by OSB, and will generate £860m of AAA rated senior bonds for the Group, for utilisation as collateral for Bank of England repo funding facilities and the Term Funding Scheme with additional incentives for SMEs (TFSME) scheme, as well as to act as collateral for commercial repo transactions with investment bank counterparties.

Commenting on the Transaction, Andy Golding, CEO of OneSavings Bank, said:

"This transaction, which represents our fourth structured finance trade of the year, significantly increases the contingent wholesale funding options available to us, as well as giving us the opportunity to be more efficient in our drawings from the Bank of England under the TFS and TFSME schemes. The transaction provides further evidence of our sophisticated approach to liability management. I would like to thank our transaction advisors and counterparties for supporting us on this transaction despite the challenges that we are all facing due to the efforts to reduce the spread of Coronavirus (COVID-19).”

Enquiries:

OneSavings Bank plc

Alastair Pate                                                                             t: 01634 838 973

Brunswick Group

Robin Wrench/Simone Selzer                                                  t: 020 7404 5959           

About OneSavings Bank 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. OSB is a specialist lending and retail savings Group authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority.