By William Gullotti and Cristal Cody
Buffalo, N.Y., Nov. 7 – Nationwide Building Society priced $1.5 billion of 5.264% covered notes due Nov. 1, 2026 on Monday, according to information provided by a market source.
The notes priced with a spread of 75 basis points over SOFR mid-swaps, or Treasuries plus 54.5 bps. Pricing was tight to guidance in the SOFR mid-swaps plus 78 bps area, revised from initial talk in the mid-swaps plus 80 bps area.
BMO, Citigroup, Nomura, RBC and TD are the bookrunners.
Nationwide Building is a Swindon, U.K.-based mortgage lender.
| Issuer: | Nationwide Building Society
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| Amount: | $1.5 billion
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| Issue: | Covered notes
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| Maturity: | Nov. 1, 2026
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| Bookrunners: | BMO, Citigroup, Nomura, RBC and TD
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| Coupon: | 5.264%
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| Spread: | SOFR mid-swaps plus 75 bps, or Treasuries plus 54.5 bps
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| Pricing date: | Nov. 6
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| Price guidance: | SOFR mid-swaps plus 78 bps area, revised from SOFR mid-swaps plus 80 bps area
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