SONIA (the Sterling Over Night Interest Average) is the representative
of the risk-free rate
and a successor to GBP LIBOR.
SONIA is the amount of interest paid overnight on obligations with minimal credit risk, liquidity risk and other risks. SONIA is calculated every business day in London based on the transactions entered into between the financial institutions. The rate administrator is the Bank of England. The calculation methodology was approved on April 23, 2018 after several meetings with market participants.
The first issue of FRN bonds based on SONIA was held by the European Investment Bank in June 2018. This is a 5Y issue
at GBP 1 bln, the interest rate depends on SONIA+0.35%.
Some issuers amend terms of outstanding LIBOR linked floates and change rates to daily compounded SONIA, for instance after bond holders approved LLOYDS BANK effective on October 7, 2019 changing the terms of its covered bond issue maturing in 2024
Find Any Data on Any Bond in Just One Click
Full data on over 800,000 bonds and stocks worldwide
Powerful bond screener
Ratings from the top 3 global ratings agencies, plus over 70 local ones
Over 300 pricing sources from the OTC market and world stock exchanges
— Are you looking for the complete & verified bond data?
— We have everything you need:
full data on over 700 000 bonds, stocks & ETFs;
powerful bond screener;
over 350 pricing sources among stock exchanges & OTC market;
ratings & financial reports;
available anywhere via Website, Excel Add-in and Mobile app.
You will have detailed descriptive & pricing data for 650K bonds, 76K stocks, 8K ETFs
Get full access to the platform from any device & via Cbonds app
Enhance your portfolio management with Cbonds Excel Add-in
Build yield maps, make chart comparison within a click
Don't wait any longer — start using Cbonds today! Register