Barclays Plc · LSE:BARC
Barclays — Investor Presentation (October 2008)
11 slides from Barclays's investor presentation, Oct 31, 2008
Slide 1: Barclays PLC
Barclays PLC 31 October 2008
Slide 2: John Varley, Group Chief Executive
John Varley Group Chief Executive
Slide 3: Today's announcements
Today’s announcements • Up to £7.3bn of new capital – £4.3bn in Mandatorily Convertible Notes and £3bn in Reserve Capital Instruments and associated Warrants – Exceeds commitment to the FSA ahead of schedule • Capital raising structured to: – Enable rapid and certain execution – Strengthen links wit
Slide 4: New Capital
New Capital HH Sheikh Qatar Mansour Institutional £bn Challenger Total Holding Bin Zayed Placing Al Nahyan MCNs 0.5 0.3 2.0 1.5 4.3 RCIs 1.5 - 1.5 - 3.0 Total new capital 2.0 0.3 3.5 1.5 7.3 Warrants 1.5 - 1.5 - 3.0
Slide 5: Impact on Capital Ratios
Impact on Capital Ratios Pro forma Pre Capital Post Capital 30 June 2008 Raising Raising* Tier One 9.1% 11.3% Equity Tier One 6.3% 7.6% * Assuming capital raising of £7.3bn
Slide 6: Mandatorily Convertible Notes
Mandatorily Convertible Notes • £2.8bn placed with specific investors • Accelerated institutional bookbuild of up to £1.5bn • 9.75% coupon, payable quarterly • Conversion on or before 30 June 2009 • Conversion at c.153p (22.5% discount to the average closing price on 29 and 30 October 2008)
Slide 7: Reserve Capital Instruments
Reserve Capital Instruments • Total issue £3bn • Placed entirely with Qatar Holding LLC and HH Sheikh Mansour Bin Zayed Al Nahyan • Perpetual tax deductible securities • 14% coupon until June 2019 • Redeemable at Barclays option from June 2019 • Qualify as innovative tier one capital • £3bn 5 year w
Slide 8: Expected timetable
Expected timetable Completion of institutional offering of 31 October 2008 Mandatorily Convertible Notes General Meeting 24 November 2008 Issuance of Mandatorily Convertible Notes 27 November 2008 and Reserve Capital Instruments Last date for conversion of Mandatorily 30 June 2009 Convertible Notes
Slide 9: Chris Lucas, Group Finance Director
Chris Lucas Group Finance Director
Slide 10: Today's announcements
Today’s announcements • Up to £7.3bn of new capital – £4.3bn in Mandatorily Convertible Notes and £3bn in Reserve Capital Instruments and associated Warrants – Exceeds commitment to the FSA ahead of schedule • Capital raising structured to: – Enable rapid and certain execution – Strengthen links wit
Slide 11: Disclaimer
Disclaimer This document is not being issued and may not be distributed directly or indirectly in or into the United States, Canada, Australia, Japan and South Africa or any jurisdiction into which the same would be unlawful. This document is for information only and shall not constitute an offer to