NatWest Markets should reap rewards for Sonia loan first

Bitten Pound
By Mike Turner
02 Jul 2019

NatWest Markets has signed the first Sonia-linked loan for a UK corporate, and in doing so the bank is a clear stand-out in a market desperate for a solution to sterling loan worries.

National Express has signed a loan in the tens of millions with a margin linked to Sonia instead of the scandal-hit Libor benchmark. The exact numbers are being kept secret by both parties, but the UK bank has previously said it would lend around £50m per deal ...

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