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Barclays tests investor interest for US dollar additional Tier 1 Bond at low 8%s - lead
November 12, 2013 / 4:26 PM / 4 years ago

Barclays tests investor interest for US dollar additional Tier 1 Bond at low 8%s - lead

LONDON, Nov 12 (IFR) - Barclays is testing investor interest for its USD-denominated Additional Tier 1 issue at initial price thoughts of low 8%s, with pricing targeted for tomorrow.

The deal is a perpetual callable at par in December 2018 and every five year anniversary thereafter, offered in benchmark size and SEC-registered format.

It will be converted to equity if the capital ratio of Barclays falls below 7% fully loaded common equity tier 1 ratio on a quarterly basis.

Barclays is bookrunner, with Citigroup, Deutsche Bank, Goldman Sachs, SMBC, UBS, Wells Fargo as joint leads no books.

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