Barclays aims to head off shareholder issue with CoCo plan

04/18/2013 | Reuters

In recent months, Barclays has issued $4 billion worth of contingent-capital debt and has said it might more than double that amount. Some of the CoCos could convert into ordinary shares if the bank fails to maintain a core capital ratio of 7%. Barclays plans to give stockholders the right to buy shares if the CoCos convert to equity, thus diluting their holdings.

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