Brexit upheaval scuppers Co-op tender

Mike Turner

November 22, 2018 03:45 pm

co-op pyramid — Manchester, United Kingdom. 3rd March 2014 -- File Image: The Co-operative's Pyramid building in Stockport. -- The Co-Op group has accepted the resignation, as chief executive, Euan Sutherland. The chief financial officer Richard Pennycook will take over the executive position until a more permanent replacement can be found. Co-op accepts Sutherland's resignation | Jonathan Nicholson / Demotix/Demotix/Press Association Images

The Co-operative Group pulled out of a new bond issue and took the rare step of cancelling a tender offer this week, with bankers pinning the blame on the UK’s Brexit brouhaha.

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Mike Turner

Corporate Debt Editor