Barclays' latest CoCo surprises critics

04/5/2013 | International Financing Review (free content)

Barclays has issued a 10-year contingent-capital bond, attracting an order book of more than $3.5 billion, with more than half of the deal going to US accounts. The offering's success has surprised analysts who doubted whether investors would be interested. "This is a groundbreaking structure and the next logical step in our plan to raise additional capital," said Jennifer Moreland of Barclays.

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