Barclays issues Sonia-linked first

Barclays logo PA 230x150
By Bill Thornhill
08 May 2019

Barclays Bank kept the primary covered bond market alive on Wednesday, launching its first deal of the year and its first Sonia-linked transaction — though at £500m it was the bank’s smallest covered bond yet.

Barclays opened order books on Wednesday for a £500m four year Sonia-linked covered bond with initial guidance of 55bp area through  leads ABN Amro, Barclays, Commerzbank, RBC Capital Markets, Santander and TD Securities.

After one hour demand stood at £1bn ...

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