Barclays Plc issued £1.25 billion in international contingent convertible bonds, Cbonds reported Aug. 4.
The perpetual securities carry a coupon of 5.875% until Sept. 15, 2024, after which the coupon will change to the five-year GBP swap rate plus 4.91%. The conversion trigger was not reported.
Barclays served as sole book runner on the issuance, while Clearstream Banking SA acted as depository.
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