Nationwide targets £715m of Pibs in tender
Nationwide has launched a tender offer for holders of its permanent interest bearing shares, targeting some £715m of securities in an attempt to bolster its capital structure.
The building society, which is facing a £2bn capital shortfall, is offering to buy back any and all of five sets of Pibs, which are callable between 2019 and 2030. It said it would consider calls on an economic basis.
The £30m and £60m notes, which are callable
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