Lloyds and RBC show investors lust after Sonia

Lloyds Bank attracted stellar demand for the first Sonia-linked trade from a FIG borrower. The covered bond format was swiftly followed by a senior unsecured deal from Royal Bank of Canada. Bill Thornhill reports.

  • By Bill Thornhill
  • 06 Sep 2018

Sonia-linked FIG supply exploded into the market this week as Lloyds enjoyed a superb reception for its £750m three year covered bond and RBC got an equally strong endorsement for its £350m senior transaction. 

The covered bond attracted demand of £1.4bn from a broad range of investors.

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