Northern Rock Plans U.S. Covered Bond Debut

Northern Rock Building Society is planning its first U.S. dollar-denominated covered bond issue.

  • 02 May 2007

--Cathy Cunningham

Northern Rock Building Society is planning its first U.S. dollar-denominated covered bond issue. The U.K –based company already issues three to four covered bonds in Europe each year and now plans on making its mark on the other side of the pond. “Covered bonds are a useful ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

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1 Citi 58,985.44 193 10.63%
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3 Wells Fargo Securities 41,996.86 122 7.56%
4 Bank of America Merrill Lynch 41,491.72 136 7.47%
5 Credit Suisse 38,293.55 120 6.90%