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FIGCovered Bonds

Santander UK brings ‘party of firsts’

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Santander UK was set to issue the first ever covered bond linked to Sofr on Tuesday, as part of a dual-tranche offering that established a number of other firsts. The deal included the first 144A dollar covered bond from a UK issuer since 2012, the first seven year covered deal linked to Sonia, and it also marked the first time that a borrower has sold dollar and sterling covered bonds simultaneously.

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