Issuers turn to Sonia for sterling covered

By David Freitas
07 Jan 2020

The Sonia-linked covered bond market is showing signs that it is 'maturing', with Commonwealth Bank of Australia launching a new deal in the format on Tuesday and Coventry Building Society looking to follow in the footsteps of two of its compatriots early in 2020.

Covered bond issuers have had a busy few days in January in the sterling market. Nationwide Building Society kick-started proceeding when it sold a Sonia-linked covered bond on Friday, but it was followed quickly by Leeds Building Society early this week.

And on Tuesday Coventry Building Society announced ...

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