trending Market Intelligence /marketintelligence/en/news-insights/trending/XqzVzt0B-wZ4rCOQUKA7fQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Co-op Bank eyeing debt-for-equity swap within 2 weeks

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Report: Co-op Bank eyeing debt-for-equity swap within 2 weeks

Co-operative Bank Plc aims to launch a debt-for-equity swap offer within two weeks, in a bid to complete the operation before £400 million of senior bonds mature in September, "two bankers briefed on the process" told the Financial Times.

The troubled British lender intends to raise approximately £450 million from the swap, though it will still need to raise £300 million in new equity, the FT said May 29, adding that failure to do the latter could lead to the bank being wound down.

"Bankers close to the plans" told the paper that Cyrus Capital Partners, GoldenTree Asset Management, Silver Point Capital and Blue Mountain, which all hold Tier 2 bonds in Co-op Bank, were the most likely to inject more capital into the lender.

Co-op Bank has been looking for a buyer since February, when it put itself up for sale after facing difficulties in generating capital.

Virgin Money Holdings (UK) Plc had reportedly dropped plans to acquire Co-op Bank, increasing the possibility that the lender will instead pursue a financial restructuring deal with its hedge fund investors.