Nationwide builds UK path to senior non-preferred issuance

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Nationwide builds UK path to senior non-preferred issuance

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A branch of the Nationwide Building Society on Putney High Street in south west London. Nationwide Building Society have today reported a drop in its pre-tax profits. | Fiona Hanson/PA Archive/PA Images

Nationwide Building Society sold the UK’s first ever non-preferred senior instrument on Thursday, having removed the contractual barriers to issuing in the format by altering the terms of three of its outstanding tier two bonds.

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