Barclays Bank extends consent solicitation for eight series of notes

By Angela McDaniels

Tacoma, Wash., Nov. 10 - Barclays Bank plc said the meeting it called on Nov. 3 for the holders of eight series of its notes was adjourned due to lack of quorum.

The meeting was adjourned to 6 a.m. ET on Dec. 8, according to a notice from the bank.

The trustee for the notes, PA (GI) Ltd., plans to cease its trust business soon and to resign as trustee. The bank is seeking noteholder approval to replace PA (GI) with Capita Trust Co. Ltd., which has acted as attorney for the trustee since 2001.

The eight series of notes are Barclays':

• $403.27 million of outstanding undated floating-rate primary capital notes, series 1;

• $482.77 million of outstanding undated floating-rate primary capital notes, series 2;

• £145 million of outstanding undated floating-rate primary capital notes, series 3;

• £39,632,000 of outstanding 9% permanent interest-bearing capital bonds;

• £158,012,000 of outstanding 7.125% undated subordinated notes;

• £135,286,000 of outstanding 6.875% undated subordinated notes;

• £133,458,000 of outstanding 6.375% undated subordinated notes; and

• £196,087,000 of outstanding 6.125% undated subordinated notes.

Noteholders have until 6 a.m. ET on Dec. 6 to make arrangements to vote with the relevant clearing system.

The quorum required at the adjourned meeting is two or more noteholders present in person or by proxy. In order for it to pass, at least three-quarters of the votes cast must be in favor of the extraordinary resolution.

The quorum required at the original meeting was two or more noteholders holding at least a majority of the principal amount of notes outstanding.

The tabulation agent is Lucid Issuer Services Ltd. (+44 0 20 7704 0880 or Barclays@lucid-is.com).

Barclays is a financial services provider based in London.

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