Nationwide Fully Redeems £1.5bn 2022-04 Covered Bonds and Moves to Delist Issue

Nationwide Building Society ( (GB:NBS) ) has shared an update.

Nationwide Building Society has fully redeemed its GBP 1.5 billion Series 2022-04 floating rate regulated covered bonds, which were issued under its €45 billion covered bond programme and were due to mature on 20 April 2026. The bonds have now been repaid in full, removing this specific series from Nationwide’s wholesale funding profile and marking the successful conclusion of this issuance.

Following the redemption, Nationwide plans to cancel the bonds’ listing on the Financial Conduct Authority’s Official List and their admission to trading on the London Stock Exchange from 19 May 2026. The delisting is a procedural step that reflects the bonds’ full repayment and simplifies the society’s listed debt portfolio, with limited operational impact beyond streamlining its outstanding capital markets instruments.

Spark’s Take on NBS Stock

According to Spark, TipRanks’ AI Analyst, NBS is a Neutral.

Nationwide Building Society’s overall score reflects strong corporate events and a solid financial foundation, offset by technical indicators suggesting potential overbought conditions and concerns over leverage and cash flow. The stock appears undervalued, but the lack of a dividend yield and high leverage are notable risks.

To see Spark’s full report on NBS stock, click here.

More about Nationwide Building Society

Nationwide Building Society is a U.K.-based mutual financial institution operating in the retail banking and mortgage lending sector. It provides savings, current accounts, mortgages and related financial services primarily to U.K. retail customers and funds its activities in part through wholesale capital markets instruments such as covered bonds.

Average Trading Volume: 921

Technical Sentiment Signal: Strong Sell

Current Market Cap: £1.36B

See more data about NBS stock on TipRanks’ Stock Analysis page.