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Barclays launches $2 billion offering of contingent convertible securities talked at 8.25%
By Stephanie Rotondo
Phoenix, Nov. 13 - Barclays plc plans to sell $2 billion of contingent convertible perpetual securities (expected ratings: BB+/B+), a market source reported Wednesday.
Price talk is around 8.25%, he said.
Barclays is the bookrunner. Lead managers include Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., SMBC, UBS Securities LLC and Wells Fargo Securities LLC.
The notes will become callable on Dec. 15, 2018. If the issue is not called at that time, then the securities can be called every five years thereafter.
Barclays is a London-based bank.
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