November 14, 2012 / 1:22 PM / 5 years ago

Demand hits USD12.5bn for Barclays CoCo

LONDON, Nov 14 (IFR) - Investor demand for Barclays Bank's inaugural contingent capital issue has reached USD12.5bn according to a lead manager.

Orders from Asia have reached USD10bn and lead managers Barclays, Citi, Credit Suisse, Deutsche Bank and Morgan Stanley collected USD2.5bn of orders from US accounts overnight.

The deal is being marketed at mid to high 7% for the 10-year Tier 2 bond which is expected to be rated BBB-/BBB-.

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