West Bromwich Building Society

04 Dec 2009

Guarantor: The Commissioners of Her Majesty’s Treasury

Rating: Baa/BBB-

Amount: £500m

Maturity: April 2012

Issue/re-offer price: 99.932

Coupon: 2%

Spread at re-offer: 8bp over mid-swaps

Launched: Wednesday 2 December

Payment date: 9 December

Sole lead:Royal Bank of Scotland

Bookrunner’s comment:

This is in line with the recent Skipton deal. Given that other government guaranteed building society bonds are ...

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