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
| Ratings | Short Term | Long Term Unsecured | SNP | AT1 | BCA/IDR | Outlook | Date
|
|---|---|---|---|---|---|---|---|
| Moody’s | P-1 | A2 | Baa1 | Baa3 | A3 | Ratings under Review | April 2024 |
| Fitch | F1 | A- | A- | BB+ | A- | Negative | June 2024 |
ESG ratings
| Ratings | Rating Scale | Our Score | Date |
| MSCI | AAA - CCC | A | November 2023 |
| Moody's ESG | 0 - 100 | 55/100 | February 2024 |
| ISS ESG | A+ - D- | C, Prime | February 2024 |
| Sustainalytics | 0-100, Negligible to Severe |
15.6, Low Risk | April 2024 |
| CDP | A – D- | C | February 2024 |
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
