After being put up for sale in February, The Co-Op bank has announced that it is in discussions with its existing investors regarding a rescue package that will prevent it from being wound down. The deal will require some investors to exchange their debit for equity at a loss, in order to raise £450m. Regarding the deal, the lender noted that 'the bank continues to fully discuss both the sale process and the capital raise options with the Prudential Regulation Authority (PRA), which has welcomed the sale and capital raise process.'