Barclays Coco trades up as buyback cap reduced and new bonds targeted
Barclays’ new $1bn contingent capital bond traded up in the secondary market on Thursday, having been priced on Wednesday afternoon in the US, following a heavily criticised execution process. The borrower also reduced the cap on its US dollar buyback — an operation linked to the new deal — by $150m after getting reverse enquiry for a buyback on three other outstanding bonds.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts