Skipton to optimise funding mix with senior tender
Skipton Building Society announced on Wednesday that it was looking to buy back one of its senior bonds. The tender offer will give investors a premium over secondary market and help the issuer optimise its liability base.
Skipton said on Wednesday that it was repurchasing any and all of its £350m 1.75% bond, maturing in June 2022.
The UK building society said that it already had a strong liquidity position and that the offer would allow the firm to reduce its interest expenditure.Jeremy Helme, ...