trending Market Intelligence /marketintelligence/en/news-insights/trending/Eo5wNzNWr1XkSshEXWa_rA2 content esgSubNav
In This List

Barclays Bank to redeem preference shares

Blog

Managed Services Insights: The client lifecycle management solution

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition

Blog

Data Insights: Enhancing regulatory compliance and client lifecycle management.


Barclays Bank to redeem preference shares

exercised itsright to redeem its outstanding $1.15 billion 7.75% noncumulative callablepreference shares on their optional redemption date of June 15.

The redemptionis part of the bank's ongoing capital management, reducing preference sharedividends payable by $89.1 million per year from June 15 onward. The capitalimpact of the redemption is dependent on foreign exchange rates applicable onthe redemption date, and is estimated to lead to a pro forma drop of about 6basis points on the bank's common equity Tier 1 ratio as of March 31.

BarclaysBank is a unit of BarclaysPlc.