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Clydesdale Offers Prime U.K. Mortgage Bonds as Home Prices Surge

Clydesdale Bank Plc is selling the first bonds backed by prime U.K. residential mortgages since October as home prices climbed by the most in almost two years.

The Scottish lender, owned by National Australia Bank Ltd., offered $997 million of debt in euros and pounds, according to people familiar with the deal. House values in England and Wales increased 1 percent from January to an average 257,951 pounds ($431,000) in the biggest monthly increase since May 2012, according to real-estate researcher Acadata and LSL Property Services Plc.