Barclays goes ‘very tight’ with popular 20 year T2 trade

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By Tyler Davies
04 Mar 2021

Barclays won plaudits for steering a 21 non-call 20 tier two into an extremely tight pricing level this week, following earlier examples from the large French banks. It accompanied its deal with the sale of some long dated senior paper.

The UK lender opened books for its dual-tranche transaction during US hours on Wednesday, following a period of relative stability in global rates markets.

It was looking to launch a 21 year non-call 20 tier two, as well as an 11 year non-call 10 senior bond from its ...

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