Barclays attracts £7.5bn of orders for blowout sterling AT1

By David Freitas
18 Sep 2019

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 ...

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