UPDATE 1-Britain names banks to sell 30-year index-linked bond

By Kitco News / January 19, 2018 / www.kitco.com / Article Link

(Updates with date and likely size of sale)

LONDON, Jan 19 (Reuters) - The United Kingdom Debt Management Office named Bank of America Merrill Lynch , J.P. Morgan , Lloyds Bank and Santander GBM to act as joint bookrunners for the sale of several billion pounds of a 30-year index-linked bond.

The DMO said the syndication of the 2048 index-linked gilt, which carries a 0.125 percent coupon , would take place in the week starting Feb. 5, subject to market conditions.

British government bond syndications typically take place on the Tuesday of a given week.

The launch of the gilt on Nov. 7 attracted 23.7 billion pounds ($32.85 billion) of orders from investors and led to the sale of 3 billion pounds of the gilt at a real yield of -1.541 percent, the lowest of any gilt sold via syndication.

The gilt now trades at a real yield of -1.554 percent.

So far this year the DMO has raised 19.865 billion pounds of finance through bond syndications, and would need to raise a further 3.835 billion pounds to meet its target for the year to the end of March.

If there is strong demand for the gilt, a further 1 billion pounds of 2017/18 issuance remains unallocated.($1 = 0.7215 pounds)


(Reporting by David Milliken; Editing by William Schomberg)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Recent News

Monetary-driven precious metals outperform major base metals

September 09, 2024 / www.canadianminingreport.com

Gold stocks hit by plunging equities markets

September 09, 2024 / www.canadianminingreport.com

Gold stocks down as metal and equities momentum fades

September 02, 2024 / www.canadianminingreport.com

Another Kazatomprom guidance announcement shakes uranium price

September 02, 2024 / www.canadianminingreport.com

Major monetary drivers still supporting gold

August 26, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok