Leeds benefits from ‘unparallelled’ demand for sterling covered bond

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By David Freitas
06 Jan 2020

Leeds Building Society opened books on Monday for its second Sonia-linked covered bond. The trade benefited from an ‘unparallelled’ level of demand, reaching almost four times its £600m size.

Leeds Building Society was marketing a benchmark sized five year covered bond in sterling on Monday morning.

Lead managers HSBC, NatWest Markets, Nomura and TD Securities were running the books, starting with price guidance of 60bp area over Sonia.

The UK lender came to ...

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