16/10/2003
HBOS Covered Bond Priced
The 10-year UK covered bond for Halifax Bank of Scotland (HBOS) with an issue size of € 2 billion has now been priced. Due on October 23, 2013, the issue carries a coupon of 4.5% and has a reoffer price of 99.472%. The spread is 14 basis points above mid-swaps, which is equivalent to 24.1 basis points above the 3.75% Bund due on July 4, 2013. The issue was jointly lead managed by Citigroup, Goldman Sachs and WestLB AG. Payment date is October 23, 2003.