Funding Programmes
Access to wholesale markets allows the Co-operative Bank to supplement the supply of retail funds. The funding programmes are maintained to ensure access to both short term and medium term markets as part of a balanced and prudent approach to wholesale funding.
The Bank has a wide variety of deposits:
- Large and stable Retail and Corporate deposit base
- Money Market Deposits
- Certificates of Deposit and Commercial Paper
- Floating Rate Notes
Euro Medium Term Note Programme
The Co-operative Bank plc established a £400,000,000 EMTN Programme in May 1994 to meet the Bank's capital, (and more recently external funding) requirements. The Programme size was increased to £3,000,000,000 equivalent in March 2010
Under this Wholesale Programme, the Bank can issue Ordinary Notes and Subordinated Notes denominated in any currency agreed between the Bank and the relevant Dealer.
Current Issues:
| Description | Status | Issue Amount | Issue Date | Issuer Call Date | Maturity | Rate |
|---|---|---|---|---|---|---|
| Fixed Rate Subordinated Callable Notes due February 2019 | Subordinated(LT2) | £150m | 01/04/2004 | 02/04/2014 Redemption in full at par | 02/04/2019 | 5.875% to (but excluding) 02/04/2014 then 5 year bench mark gilt plus 2.25% p.a |
| Fixed/Floating Rate Subordinated Notes due November 2021 | Subordinated(LT2) | £150m | 16/11/2006 | 16/11/2016 & quarterly thereafter Redemption in full at par | 16/11/2021 | 5.625% to (but excluding) 16/11/2006 then 3 month LIBOR plus 1.75% p.a |
| Fixed Rate Senior Unsecured Notes due September 2017 | Senior, Unsecured (SNR) | £400m | 20/09/2010 | N/A | 20/09/2017 | 5.125% s.a |
EMTN Programme Documentation:
To download a copy of the Bank's EMTN Prospectus, please read and accept the following disclaimer.
Disclaimer:
The materials included on this website are not an offer of securities for sale in the United States, and no offering or sale of securities will be made in the United States.
The Notes discussed on this website have not been and will not be registered under the US Securities Act of 1933, as amended, and include Notes in bearer form that are subject to US tax law requirements. Subject to certain exceptions, the Notes may not be offered, sold or delivered within the United States or to US persons.
By clicking on the box below you acknowledge and accept the above statements, and confirm that you are a non-US resident. Otherwise, you should exit this section of the website.
Euro Commercial Paper Programme
The Co-operative Bank plc established a £1,000,000 ECP Programme in 2004 to access short term funding up to 365 days maturity. Issuance is currently in GBP, USD and EURO; utilisation of the Programme varies between £300m - £500m sterling equivalent on average.
Capital Market Transactions
Read more about Capital Markets Transactions on the Capital Markets microsite.
