Lloyds underwhelms with second Sonia linked covered bondLloyds Bank issued a £750m three year Sonia linked covered bond on Monday, taking advantage of the steepness of the sterling curve to cut the funding cost. But having issued almost £4bn in the last 12 months, demand was much less compelling than Nationwide’s recent Sonia debut.

Lloyds Bank issued a £750m three year Sonia linked covered bond on Monday, taking advantage of the steepness of the sterling curve to cut the funding cost. But having issued almost £4bn in the last 12 months, demand was much less compelling than Nationwide’s recent Sonia debut.https://www.globalcapital.com/article/b1clgvdvbbntd5/lloyds-underwhelms-with-second-sonia-linked-covered-bond[Collection]