The Co-Operative Bank Plc, the U.K. lender that abandoned a bid to buy branches from Lloyds Banking Group Plc, will swap some debt for equity and trade on the London Stock Exchange to plug a capital hole.
Barclays Plc paid yields almost four times those on its senior bonds to sell $1 billion of contingent capital notes, rewarding investors who can accept being wiped out in a crisis at the U.K.’s second-largest lender.
Deutsche Bank AG’s announcement yesterday that earnings will suffer this quarter added to a cacophony of negative news over the past two weeks that’s increasing pressure on the company’s new leadership.
SNS Reaal NV’s subordinated bonds rallied, stemming a decline of as much as 29 percent since Jan. 10, amid speculation the Dutch bank and insurer will be able to sell a stake and avoid taking a bailout.
Barclays Plc, Britain’s second- biggest bank by assets, says the interest rate it pays for short-term dollar loans is the lowest ever relative to rivals even as other measures of its credit deteriorate.