UK trio hit covered bonds as Brexit woes recede

By Bill Thornhill
18 Mar 2019

Lloyds Bank and National Westminster Bank issued exceptionally well subscribed covered bonds respectively in euros and sterling on Monday as Virgin Money announced roadshow plans for its debut deal. The three borrowers took advantage of the UK Parliamentary vote to avert a ‘no deal’ Brexit.

Last week the UK Parliament overwhelmingly voted to avoid leaving Europe without a deal. 

Although the UK could still technically leave Europe without a deal, the vote “went a long way to assuring the market that a 'no deal' is off the table,” according to a lead manager on ...

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