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Oak North Bank (UK)

2013

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Coupon

7.75%

Current Yield

7.8%

*
Estimated Yield to Maturity

7.8%

**
Maturity Date

01 Jun 2028

Next interest payment

01 Dec 2018

Interest Payment Frequency

6m

Next Call

1 June 2023 at 100

Asset Security

Unsecured

Industry

Banks & Financials

Amount

£50,000,000

ISIN

XS1713463047

Business Description

Oak North Bank is a leading digital Challenger bank in the UK market. OakNorth secured a full banking licence in March 2015 and began deposit taking and lending six months later. The company achieved full year profitability of £9.5 million in 2017 OakNorth operates in the following two key lending segments: - Business Lending: which is primarily cash-flow based lending to companies that have funding requirements, including (but not limited to) growth, working capital and acquisitions. Many of these loans also benefit from additional tangible collateral such as fixed assets, debtors or stock; and - Property Finance: which includes the financing of new developments and refurbishments as well as medium-term property investment funding.

* The coupon divided by the price. Where the coupon is partly dependent on Libor it uses market based Libor forecasts at each coupon date over the next 12 months.
** The estimated yield from holding a bond to maturity including interest and capital repayment and assuming interest is re-invested at the same yield. Please note this calculation may be adversely affected by features in bond such as calls or prepayments. Where the coupon is partly dependent on Libor it uses market based forecasts of Libor until the maturity date.
Please note that the current yield and yield to maturity are an estimated return calculation and not guaranteed. All yields shown are gross of taxation and our Service Fee.

Status: Performing


Notes:

The company currently has no outstanding notes.

Capital at risk. No FSCS cover. See Risk Statement.

 

Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are investing in a Participation Note, or “Note”, which corresponds and is backed by a specific loan or bond investment made through the WiseAlpha platform reflecting the key economic terms of the investment.

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