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Bond Market News
Barclays Prices $1.5bn PerpNC10.5 AT1 at 7.625%
February 19, 2025
Barclays raised $1.5bn via a PerpNC10.5 AT1 bond at a yield of 7.625%, 37.5bp inside initial guidance of 8% area. The junior subordinated notes are rated Ba1/BB-/BBB-. If not called by 15 September 2035, the coupon will reset to 5Y SOFR plus 368.6bp. A trigger event would occur if the CET1 Ratio of the group is less than 7%. Net proceeds will be used for general corporate purposes and to strengthen further the capital base of the Issuer and its subsidiaries.
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