Hybrids in the news

Barclays Raises $3 Billion With 10-Year Contingent Capital Notes

Barclays Plc raised $3 billion from a sale of dollar-denominated bonds that can be written off in a crisis as the U.K.’s second-largest lender seeks to meet regulators’ demands to bolster capital. Investors in the 10-year contingent capital notes will lose all their money if Barclays incurs losses that reduce its so- called core Tier 1 equity to 7 percent or lower, according to two people with knowledge of the sale who asked not to be identified because they’re not authorized to speak about the deal. The 7.625 percent bonds yield 603.7 basis points more than similar-maturity Treasuries.

New Issue-Barclays Bank sells $3 bln in notes

Barclays Contingent Capital Securities Risk Shareholder Conflict

S&P clarifies equity content for Barclays' proposed CoCo notes

CoCo-Like Instruments on Nykredit List of Capital Boosting Aids

Barclays Cocos Look Like Go-Gos

VW relaunches mandatory convertible market

UK regulator takes tough stance on Barclays CoCo issue

Britain's financial regulator is taking a hard line on a type of debt being sold by Barclays to protect its capital position, as bondholders will be wiped out if the bank's core capital ratio falls below 7 percent.

Market eyes Barclays CoCo for clues on price, regulation

Barclays Plans Contingent Bonds as U.K. Pushes Banks on Capital

Barclays revives CoCo project

Barclays could be reviving plans for a contingent capital transaction in the coming weeks, according to its finance director Chris Lucas. During a conference call held on Wednesday, Lucas said Barclays had made considerable progress with the FSA regarding the capital value to be attributed to contingent capital instruments.

Allied Irish does not see need to tap contingent capital