Nationwide targets sterling senior amid welcoming conditions

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By David Freitas
17 Jan 2020

Nationwide Building Society launched a three year preferred senior bond in sterling on Friday, with the trade’s success coming as 'no surprise' amid a favourable backdrop in the currency.

Nationwide Building Society launched £500m of preferred senior paper at a spread of 65bp over Gilts, supported by about £1.2bn of orders.

Lead managers Lloyds, NatWest Markets and UBS fixed the spread when they had received over £1bn of orders, at around 11am London time.

They had ...

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