U.K. Building Society Wraps First Covered Bonds Deal

28 Nov 2008

Skipton Building Society has structured its first covered bonds transaction, worth £750 million ($1.15 billion), under a newly-established €5 billion ($6.4 billion) program.

--Cristina Pittelli

Skipton Building Society has structured its first covered bonds transaction, worth £750 million ($1.15 billion), under a newly-established €5 billion ($6.4 billion) program. The deal, which is understood to be retained, was assigned top ratings of Aaa by both Moody’s Investors Service and Fitch Ratings.

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