4th Jan 2016 16:36
LONDON (Alliance News) - Barclays Bank, part of Barclays PLC, on Monday approached holders of four different loan notes with offers to buy them for a total of EUR4.13 billion in cash.
The securities in question are the issuer's 4.875% notes due 2019, 2.125% notes due 2021, 2.25% notes due 2024, and 5.75% notes due 2021.
The total principal amount of the 4.875% notes due 2019 is EUR1.48 billion; of the 2.125% notes due 2021, there is EUR1.25 billion; of the 2.25% notes due 2024, there is EUR1.00 billion; of the 5.75% notes due 2021, there is EUR403.2 million.
"The offers are made as part of the issuer's ongoing liability management, with the intention of supporting the group's ongoing transition to a holding company capital and term funding model in line with regulatory requirements," Barclays said.
"Independently of the offers, and as part of the group's ongoing transition to a holding company capital and term funding model, Barclays PLC intends to continue issuing senior unsecured liabilities in all major currency markets and such issuance may follow in the near future. The offers are not conditional upon any future capital markets issuance," the bank added.
In addition, Barclays Bank said it has invited holders of US dollar-denominated debt securities to tender those securities for purchase.
Shares in Barclays were down 2.1% at 214.25 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
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