Nationwide considers RMBS over covered bonds
Nationwide Building Society has announced a US and UK roadshow for its Silverstone 2018-1 RMBS with a view to issuing dollar and sterling floating rate tranches. It may also issue a longer dated fixed-rate tranche, a format that has historically been used by covered bond issuers including Nationwide.
Nationwide has mandated Barclays, Bank of America Merrill Lynch, Citi and HSBC for a roadshow in the US and UK and intends to issue a Reg S/144A deal in the three to five year in both sterling and dollar floating rate notes....
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