Barclays bonds

Saturday 17 April 1993 23:02 BST

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BARCLAYS BANK is planning to raise dollars 300m ( pounds 197m) in the US domestic bond market to boost its capital ratios. The fixed-rate convertible bonds, which will rank as Tier 2 capital, have no fixed maturity but can be redeemed by Barclays in certain circumstances after 10 years.

The shares can also be converted into dollar-denominated preference shares, which would promote them to Tier 1, or 'core', capital. The issue is being led by Goldman Sachs, the New York investment bank.

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