LONDON, June 13 (Reuters) - British bank Barclays Plc is to issue about $3.8 billion of new bonds that canconvert into shares if the bank hits trouble, after an offer todebt investors to exchange old bonds had much higher thanexpected take-up.
It is the latest move by Barclays to adjust its capitalstructure to improve its balance sheet strength to meet newregulations.
Barclays offered to swap old debt instruments for newadditional Tier 1 (AT1) securities in three currencies. Itissued the results on Friday and said it will issue $1.211billion of new dollar-denominated AT1 bonds, 697.6 millionpounds ($1.17 billion) of sterling instruments, and 1.076billion euros ($1.46 billion) of euro-denominate AT1 bonds.
($1 = 0.5956 British Pounds)($1 = 0.7345 Euros) (Reporting by Steve Slater; Editing by Chris Vellacott)