UK covereds tender offers grow alongside Brexit risks

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By David Freitas
18 Sep 2020

Nationwide Building Society is buying back £2bn of covered bonds in euros and sterling. UK covered bond issuers are buying back securities as risks increase ahead of the end of the Brexit transition period.

Nationwide Building Society on Friday became the latest issuer to disclose the results of a tender: in its case involving 11 of its outstanding covered bonds that total €6bn in euros and £4.75bn in sterling.

It said that it was accepting a maximum aggregate nominal amount of around ...

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