Co-op launches cash tender for its only covered bond

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Senior Debt

Co-op launches cash tender for its only covered bond

Tyler Davies
September 25, 2020 12:45 pm
Co-op_Bank_PA_575x375_250920
The Co-operative Bank sign in Islington, London. The board of the Co-operative Bank has hoisted a for sale sign over the troubled lender as concerns mount over its capital position. | Kirsty O'Connor/PA

The Co-operative Bank is looking to buy back any and all of its only outstanding covered bond, as it repositions its funding structure for central bank money and the minimum requirement for own funds and eligible liabilities (MREL).

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Tyler Davies
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