Co-op enters crunch time for MREL needs

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By Tyler Davies
18 Nov 2020

The Co-operative Bank is getting ready to sell its first senior bond for the minimum requirements for own funds and eligible liabilities (MREL), after letting investors know that it is engaged in discussions about a possible takeover.

The UK lender said on Tuesday that it had enlisted Credit Suisse and Goldman Sachs as its joint lead managers.

These two investment banks are holding a series of calls with investors to discuss the potential sale of an MREL-eligible debt instrument in November.

Co-op is looking to raise £200m ($265m) in a senior format ...

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