Reuters: Bankruptcy News: Banco Popular Espanol plans euro CoCo issue

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Banco Popular Espanol plans euro CoCo issue Oct 1st 2013, 13:03 By Helene Durand Tue Oct 1, 2013 9:03am EDT LONDON, Oct 1 (IFR) - Banco Popular Espanol is planning a EUR500m contingent convertible capital issue which will count as Additional Tier 1 and will convert into shares if the bank's Common Equity Tier 1 ratio falls below 5.125% or the bank Tier 1 ratio falls below 6%. The sale of the perpetual bonds will be managed by Bank of America Merrill Lynch, Barclays, Santander and UBS. It will be the second Additional Tier 1 trade for a Spanish bank in 2013. (Reporting by Helene Durand, editing by Alex Chambers)

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