Barclays attracts £7.5bn of orders for blowout sterling AT1

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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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