Sterling trio come through on unrelenting UK bid
In a further demonstration of the domestic bid for sterling denominated deals, three such transactions were mandated this week. Yorkshire Building Society priced the shortest dated sterling issue of the year on Tuesday, Abbey National followed with a 10 year on Thursday, and Coventry Building Society mandated for an inaugural sterling issue, expected next week.
Yorkshires £750m seven year print was priced at the tight end of guidance and exceeded size expectations, proving the covered market is open for UK building societies, and that participants are receptive to shorter tenors.
Leads Barclays Capital, HSBC, and UBS took indications of interest on Monday on the
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