A&O Shearman advises The Co-operative Bank on return to covered bond market after 13-year absence

Not only did the transaction mark Co-operative Bank’s first covered bond issuance in 13 years but it marks their first asset-backed transaction since 2019.

A&O Shearman partner Daniel Hill said: “it has been a pleasure to assist Co-operative Bank’s team on the restructuring of their covered bond programme and the subsequent issuance. This transaction marks the successful and welcome return of Co-operative Bank as an active covered bond issuer and underscores A&O Shearman as the pre-eminent adviser in relation to UK covered bonds.”

The A&O Shearman team was led by Daniel Hill, partner, Graeme MacDonald, senior associate and Helen Stephen, associate.