YBS breaks back into tier two with callable sterling

By Graham Bippart
13 Nov 2014

Sterling investors got a rare treat on Thursday from Yorkshire Building Society, which re-entered the tier two market for the first time in years, building a four times oversubscribed book.

The £250m 10 year non-call five year deal was rare not only because Yorkshire hasn’t issued tier two since its 2010 sale of £100m in profit participating deferred shares but also because issuers usually look to the euro market for callable tier two deals.

“We’ve seen 30 year ...

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