A trio of UK issuers took advantage of strong demand to bring tightly priced euro and sterling senior and secured deals last week, easily placing over €3.1bn equivalent. "Investors are relatively receptive to all the UK supply and senior deals are getting away with 10bp-15bp new-issue premiums, which is very attractive to a lot of borrowers," said a syndicate banker. Nationwide buildinc society took centre stage in the covered bond market, bringing the first dual-tranche UK euro deal and the first 15-year covered issue of 2014. It was also Nationwide's first euro covered bond foray since 2011. Lead managers Barclays, Citigroup, UBS and UniCredit began testing investor interest on Thursday at the mid-swaps plus mid-30s area for the 15-year piece and the plus 10bp area for the five-year portion.
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