Barclays recruits nine extra banks to help with largest ever fundraising The nine come in addition to Bank of America Merrill Lynch, Citigroup, Credit Suisse and Deutsche Bank who were originally selected to lead underwrite the rights issue and were announced at the time of Barclays" results last week. In addition, Barclays own investment bank is co-ordinating the fundraising. The delay in announcing the identities of the nine extra underwriters was because of the initial need to keep the number of banks working on the fundraising plans as small as possible to avoid leaks. The banks will share in a fee pot of approximately £130m, with £60m of that going to the lead underwriters. Further detail on the break-down of fees is not expected until the prospectus for the rights issue, which is due to be published in September. The new rights issue shares will be offered to existing investors on a one-for-four basis at 185p, a 40pc discount to the closing share price the night before the fundraising was announced. In addition to the fundraising, Barclays has also said it will sell up to £80bn of additional assets, and retain more of its earnings to help meet the £12.8bn target. The PRA badged Barclays" plans as "credible," saying it looked set to meet a leverage ratio of 3pc by June 2014 "without cutting back on lending to the real economy."