Barclays brings tier two as markets brighten

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By Tyler Davies
15 May 2020

Barclays opened books on a new tier two capital issue in sterling on Friday, as the financial markets looked set to end a volatile week on a positive note.

The UK bank (Baa2/BBB/A) began marketing its 10.5 non-call 5.5 tier two at 400bp area over Gilts.

Barclays was the sole bookrunner for the deal, which was expected to carry a small size of just £500m.

By 12.30pm in London, the bank was able to use ...

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