Co-op Bank posts £135m first half loss
Co-operative Bank has reported a first half loss of £135.2m in its first financial results since it agreed a £700m rescue package with its lenders.
The beleagured bank, which was first put up for sale at the start of the year before scrapping the sale process in June, agreed a deal to raise £250m of new equity from existing investors and £450m from bondholders swapping into equity.
The capital injection means the bank has avoided being wound down by the Bank of England but it will also leave retail bondholders with less than... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
