Barclays has become the second financial institution to issue an additional tier one (AT1) in the sterling market this week, supported by a quiet backdrop in UK politics and healthy investor demand. The issuer was 7.5 times subscribed for its £1bn deal.
The UK lender acted as sole bookrunner, circulating initial price thoughts in the 6.875% area for the perpetual non-call six year AT1.
This is not the first AT1 to be floated in the sterling market this week. Barclays
’ trade on Wednesday was preceded by a new offering