Barclays buys back $850m in Coco accompaniment

08 Apr 2013

Barclays has hit the reduced $850m cap early on its tender offer for two US dollar securities, which the bank launched along with its $1bn contingent capital trade last week.

Holders of the two notes — a 6.05% subordinated deal due in 2017 and a 5.140% lower tier two bond due in 2020 — had tendered approximately $936m and $242m, respectively, by the early participation deadline at 5pm in New York on Monday.

That equates to 41.6% of ...

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