Yorkshire raises £750m in bond issue

The mutual raised the money from institutional investors yesterday in an oversubscribed covered sterling bond issue, according to the Yorkshire Post. The bond issue, rated Aaa/Aa1 with ratings agencies Fitch and Moody's, matures in seven years. After marketing the bonds on Monday, YBS achieved an order book totalling £1.25bn from more than 70 investors, and scaled it back to £750m. It was the first time YBS has launched a covered sterling bond issue, after previously raising funds via Euro-denominated bond issues. It last raised 600m euros through a bond issue in September. "...