Leeds extends covered curve as BoQ debut dawns

Houses
By Bill Thornhill
26 Jun 2017

Leads Building Society extended its covered bond curve by four years on Monday with a €500m seven year covered bond that was priced with little new issue premium. The transaction is expected to be followed by Bank of Queensland’s first covered bond.

Leeds Building Society finished its European roadshow last week and opened books at 8am on Monday for a €500m July 2024 at 20bp area over mid-swaps.

After about one hour the book exceeded €500m and by 10.45am, when 55 ...

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