Barclays close to rights issue

Tim Wallace
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BARCLAYS in planning to get its £5.8bn rights issue away within the fortnight, City A.M. understands.

The lender is issuing the new shares to improve its capital position, as it is under pressure from the Bank of England to get to a three per cent leverage ratio.

The bank is believed to be targetting the week of 16 September for the rights issue. It is thought to be awaiting final approval from the authorities.

Barclays declined to comment.