Coventry issues first Sonia-linked financial five year

Coventry Building Society
By Bill Thornhill
06 Nov 2018

Coventry Building Society became the first financial institution to issue a five year Sonia-linked covered deal on Tuesday, just beating Yorkshire Building Society (YBS) to the punch.

After Lloyds and then Santander UK, issued the first and second Sonia-linked covered bonds, both in the three year tenor, bankers had widely expected the next trade to extend along the maturity curve.

The accolade had been expected to go to YBS, which mandated leads to roadshow ...

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