Santander UK brings ‘party of firsts’

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Santander UK brings ‘party of firsts’

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File photo dated 14/02/15 of Santander signage above a branch. Santander UK has posted a 37% drop in pre-tax profits to £981 million for 2019 after taking a £169 million hit for payment protection insurance (PPI) claims and costs for its overhaul plan. | Laura Lean/PA Wire/PA Images

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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