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Investor relations

Wholesale funding strategy

The Society uses wholesale funding to provide diversification of funding, supporting growth and lowering risk as well as providing value to members through lowering the overall cost of funding. Our wholesale funding is raised through money markets deposits and a range of instruments, which are diversified across short and long-term maturities. We’ve raised wholesale funds by issuing notes under our Covered Bonds programme and by issuing Residential Mortgage Backed Securities through our Master Issuer Programme. Treasury can only accept funds from institutional investors. The minimum amount that can be placed with us is £1 million.

 

In line with the legal status of the Society, at least 50% of our funding requirements are raised in the form of member deposits which are supplemented by a number of wholesale funding options.

Credit ratings

The Society’s current credit ratings from Moody’s and Fitch are as follows:
Ratings Short Term  Long Term Unsecured SNP AT1 BCA/IDR Outlook
Moody’s P-1 A2 Baa1 Baa3 A3 Stable
Fitch F1 A A- BB+ A- Stable

ESG ratings

Ratings Score Date
MSCI BBB November 2021
Vigero Eiris 52/100 April 2021
ISS ESG C, Prime August 2021
Sustainalytics 14.9, Low Risk September 2021
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Contact the Treasury department

If you’d like more information on how to invest with us, or if you’re a current investor, contact one of the team using the contact details below, or email the Treasury department at treasury@thecoventry.co.uk.


Treasurer: Lyndon.Horwell@thecoventry.co.uk

Head of Capital Markets: Philip.Hemsley@thecoventry.co.uk

Head of Markets: Colin.Taylor@thecoventry.co.uk

Senior Manager - Investor Relations: Sarbjit.Sumal@thecoventry.co.uk

Disclaimer

Nothing on this page or this website (i) constitutes an offer to sell, or a solicitation of an offer to buy, any securities from any person in any jurisdiction, or (ii) constitutes or forms part of any offering document for any security. The securities referenced on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act). Subject to certain exceptions, such securities may not be offered, sold or delivered in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act). Persons accessing this website are required to inform themselves about and to observe all applicable securities and other laws and regulations in the jurisdictions in which they are resident, located and/or organised.