°Ç¸çºÚÁÏ

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  • calender-icon Event
  • Posted: 18 Feb 2026

Momentum in the Market: Junior Subordinated Capital for Mutuals

19
Mar
2026

  • Calender-Icon Time: 11:00 - 12:00
  • Location-Icon Location: Webinar
  • Admin-Icon Organised By: Allia C&C
  • Currency-Icon Free to attend
A free webinar hosted by


Building societies represent more than £36bn of publicly listed securities and private placements, issued across a broad spectrum of capital instruments - from covered bonds and senior unsecured debt to Tier 2, Core Capital Deferred Shares (CCDS) and legacy PIBS.


Despite this scale and sophistication, the sector is often under-researched and, at times, misunderstood by investors.

As a highly regulated and systemically important part of the UK financial infrastructure, °Ç¸çºÚÁÏ play a critical role in the residential mortgage and retail savings markets. Their mutual ownership model, conservative risk profile and strong regulatory oversight create a distinctive credit story - particularly in the context of subordinated and junior capital.

Against a backdrop of improving market pricing and renewed investor appetite for subordinated financial debt, this webinar will examine:

  • The current state of the junior capital market for UK °Ç¸çºÚÁÏ
  • Structures available, including CCDS, Tier 2 and other subordinated formats
  • Investor demand and sentiment across public and private markets
  • Key structural and regulatory factors influencing issuance strategy
  • Ecology Building Society’s experience raising CCDS

Drawing on Allia C&C’s experience advising on CCDS, Tier 2 and legacy PIBS transactions, we will provide practical insights into how societies can position themselves effectively in today’s market environment.


As part of the Allia charity group, we’re a financial services firm tasked to make a difference to charities and other impact organisations.

Event Summary

  • Thursday, 19 March 2026
  • 11:00 - 12:00
  • archie.dickinson@alliacc.com
  • Free to attend

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