Barclays in $2 Billion Offering

March 20, 2019

Cleary Gottlieb represented Barclays PLC (Barclays) in a SEC-registered offering of $2 billion senior notes.

The offering, a takedown from Barclays’ shelf registration statement, closed on May 7, 2019.

The offering consisted of a single tranche of fixed-to-floating-rate senior notes, maturing in 2025. The notes bear fixed interest at a rate of 3.932% until May 7, 2024, and, thereafter, floating interest based on three-month U.S. dollar LIBOR. The interest on the notes will reset quarterly from, and including, May 7, 2024. The notes are subject to redemption at Barclays’ discretion upon the occurrence of certain regulatory and tax events.

The notes are listed on the New York Stock Exchange.

Barclays is a British multinational investment bank and financial services company, headquartered in London.