Reuters: Bankruptcy News: Santander UK boosts core tier 1 via debt buyback

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Santander UK boosts core tier 1 via debt buyback Jul 13th 2012, 14:04 By Aimee Donnellan Fri Jul 13, 2012 10:04am EDT LONDON, July 13 (IFR) - Santander UK bought back hybrid debt from investors on Friday in a tender to boost its core tier 1 ratio ahead of the stricter capital requirements in Basel III. Bank of America Merrill Lynch and Barclays assisted with the purchase of GBP1.88bn of several series of Tier 1 and Tier 2 notes out of a total of around GBP2.6bn that was included in the tender offer.

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