Andbank €100 million floating rate covered bond issue

Overview:

• Andorra Banc Agrícol Reig (Andbank) has issued €100 million in covered bonds.
• The issue consists of a €100 million floating rate covered bond, due July 2022, backed by residential mortgages.
• The bonds were issued under the bank's newly established €500 million EMTN and covered bond programme.
• The deal is the bank's and the country's first issue of this type.
• JPMorgan acted as lead manager.

Sam Duke - Editor