Virgin plans inaugural euro covered bond

VirginMoney_PA_230x150
By Bill Thornhill
20 Aug 2019

Virgin Money plc has mandated leads for a European roadshow and hopes to issue its first euro denominated covered bond. The transaction is set to emerge at a challenging time, amid rising concerns that the UK will chaotically leave the European Union without reaching an exit agreement at the end of October.

Virgin Money plc has mandated BNP Paribas, HSBC, Natixis, NordLB and UniCredit for a European roadshow that starts on August 27. An Aaa/—/AAA rated euro denominated UK regulated covered bond is expected to follow.

The planned deal comes amid mounting worries that ...

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