Barclays PLC Prices $1.25bn 5.918% Senior Callable Notes due 2032
Barclays PLC has priced $1,250,000,000 of 5.918% Fixed-to-Floating Rate Senior Callable Notes due November 5, 2032. The notes bear interest at 5.918% per annum during the fixed rate period from the issue date through the par redemption date of November 5, 2031, converting to a floating rate of Compounded Daily SOFR plus 140.4 bps during the floating rate period through maturity. Net proceeds to the issuer total approximately $1,245,937,500 after underwriting discount.
Key takeaways
Barclays PLC issued $1.25 billion in senior notes with a 5.918% coupon during the fixed rate period
Notes are callable at par on November 5, 2031, with make-whole redemption available from May 5, 2027
Floating rate period runs from November 5, 2031 to maturity at SOFR plus 140.4 bps
Underwriting discount of 0.325% yields net proceeds of approximately $1.246 billion
Expected ratings are Baa1 (Moody's), BBB+ (S&P), and A (Fitch)
Notes will be listed on the New York Stock Exchange
Settlement is T+5 on November 5, 2026
Primary source
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