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.
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