Nationwide brings trailblazing 20 year covered

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Nationwide brings trailblazing 20 year covered

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B64W6M united kingdom essex rayleigh the nationwide building society. Image shot 2008. Exact date unknown. | Alamy Stock Photo

Nationwide Building Society issued the first UK covered bond of the year, the first to test appetite since Brexit was concluded and the first UK deal with a 20 year tenor in euros. As such it offered a particularly rare opportunity to get some spread and yield pick-up.

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