Nationwide to issue UK’s first euro covered bond of the year

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By Bill Thornhill
26 Apr 2021

Nationwide Building Society plans to issue the first euro denominated covered bond from a UK issuer this year and the first since Brexit was concluded. The €500m deal comes after a series of successful Canadian covered bonds, but unlike them it has a much longer 20 year maturity.

Nationwide Building Society has mandated ABN Amro, BNP Paribas, NatWest Markets, and UBS to lead manage its €500m 20 year UK regulated covered bond which is expected to be rated AAA/AAA by Standard and Poor’s and Fitch.

The deal will be the first from a UK ...

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