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GC Asia
Barclays buys back $850m in Coco accompaniment
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 ...Please take a trial or subscribe to access this content.
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