YBS enjoys strongest ever sterling covered demand

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YBS enjoys strongest ever sterling covered demand

PA-Yorkshire Building Society
Embargoed to 0001 Wednesday November 20 Signage at the head quarters of Yorkshire building society as the major building society has unleashed a flood of new 5\% mortgage deals on to the market which undercut products being offered by the Government's flagship Help to Buy Scheme. | Lynne Cameron/PA Archive/PA Images

Strong interest from investors outside the UK on Thursday ensured that Yorkshire Building Society (YBS) was able to attract the highest demand for any sterling covered bond it has ever issued. Moreover, the sizeable deal was priced with no new issue concession and several basis points cheaper than if it the funding was in euros.

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