Skipton sets eyes on Sonia first

By Bill Thornhill
19 Mar 2019

Skipton Building Society has mandated leads for its first Sonia-linked covered bond. The issuer follows National Westminster Bank and takes advantage of an improvement in sentiment that followed a UK Parliament vote last week.

Credit Suisse, Lloyds Bank Corporate Markets, NatWest Markets, and TD Securities were appointed lead managers for the sterling-denominated inaugural Sonia-linked benchmark.

Subject to market conditions, the Aaa-rated transaction will be launched in the near future and will have a February 2024 soft bullet maturity. ...

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