Nationwide ‘extracts maximum value’ with tightest five year Sonia covered to date

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By David Freitas
03 Jan 2020

Nationwide Building Society issued the first sterling covered bond of the year on Friday, without needing to pay any premium over the tight trading levels of its existing bonds.

The UK lender was the first to enter the covered bond market in 2020 after issuance came to a pause in early December.

It opened books for a five year fixed rate note in sterling, and chose HSBC, Lloyds, NatWest Markets and Santander to run ...

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