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Barclays Seeks $7.8B From Sovereign Wealth Funds

Posted Jun 16, 08 7:40 AM CDT in Business,  World 

(Newser) – The UK’s fourth-largest bank, Barclays, is looking to raise capital by issuing $7.8 billion in new equity, underwritten by sovereign wealth funds, the London Times reports. The announcement sent shares soaring in trading today. Barclays has been rumored for weeks to be considering a cash infusion, joining a number of other banks looking to recapitalize after getting pinched in the credit crisis.

Source Times (UK)

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People walk pass a branch of Barclays Bank, with Westminster Abbey reflected on its window,   (AP Photo/Sang Tan)
A woman leaves a branch of Barclays Bank in central London.   (AP Photo/Sang Tan)
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credit crisis  • writedowns  • Barclays  • sovereign wealth funds  • equity


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