ABN AMRO joint lead manager on first senior social bond from a UK building society
- United Kingdom
Martyn Kember-Smith
Marketing and Communications Officer
ABN AMRO have acted as a joint lead manager on Yorkshire Building Society’s GBP 250m WNG (will not grow) 8nc7 Social SNP (senior non-preferred).
This transaction marks the first senior social bond from a UK building society and is Yorkshire Building Society’s (YBS) inaugural senior social bond. It has been issued under YBS’ recentlyupdated Social Financing Framework with eligible assets focused on providing access to essential services, including mortgages to underserved parts of the population, and social housing.
The deal has seen a strong participation from ESG focused accounts who were allocated around 70% of the transaction.
Regional split skewed towards UK & Ireland (82%) followed by Germany, Austria and Switzerland (7%) and Nordics (6%)
86% of the transactions were allocated to Asset Managers followed by Central Banks and Official Institutions (7%) and Pension Funds (5%).