March 4, 2014 / 9:45 AM / 4 years ago

Nationwide revises guidance to 7% area after books grow to over GBP9bn

LONDON, March 4 (IFR) - Demand for Nationwide Building Society’s inaugural Additional Tier 1 issue is in excess of GBP9bn, according to a lead manager.

Official guidance has been set at 7% area, tighter than the initial price thoughts of 7.25% to 7.5%. Order books for the perpetual non-call 5.25-year deal will close in 15 minutes.

Citi, Deutsche, RBS and UBS are leading the trade.

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