Co-op to offer debt investors highs to forget lows

摘要

The co-operative bank is set to test the extent of goodwill for its credit when it attempts to sell its first subordinated bond less than two years after bondholders rode to its rescue in a brutal liability management exercise. The UK lender, which nearly collapsed in 2013 before bondholders stepped in, concluded HSBC/UBS-led investor presentations for a Tier 2 sterling bond on Friday and a deal could surface as early as this week.