Co-op launches cash tender for its only covered bond

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Co-op launches cash tender for its only covered bond

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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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