NW spies chance to remove dead wood from cap stack

By Tyler Davies
15 Sep 2020

NatWest launched a new tender offer this week for four of its subordinated bonds, all of which are soon set to lose their value as regulatory capital.

NatWest Group — formerly the Royal Bank of Scotland Group — set out the terms of its buyback on Tuesday morning. 

Its offer included a pair of tier one and a pair of tier two bonds, all of which are denominated in dollars. 

The UK bank ...

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