Barclays attracts record orders

The euro denominated covered bond market has been starved of UK supply with Barclays five year being only the second this year. Last year as many as 14 benchmark deals were issued by UK borrowers in euros. Until now, the record number of accounts seen in any euro UK benchmark had been held by RBS, which attracted 186 orders for its March 2016 issued in 2011. But, with around 200 accounts on board, Barclays latest five year has broken that record by some margin. The level of oversubscription in Barclays deal was high, but did not set a record for UK names in euros.