Barclays T2 rallies as market await Yankee rush

Barclays_2_PA_230x150
By Tyler Davies
03 May 2017

Investors were rewarded handsomely if they bought into Barclays’ $2bn tier two on Tuesday, after the deal performed very well in the secondary market.

Barclays set a final spread of 255bp over US Treasuries for the 11 year non-call 10 lower tier two on Tuesday, having tightened by up to 20bp from initial price thoughts of 270bp-275bp.

The bonds rallied very ...

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