Sovereign debt crisis? DMO issues whopping syndicated Gilt
The UK DMO got off to a cracking start with its 2010/2011 syndication programme, issuing £8bn of a new 30 year conventional Gilt on Tuesday, the biggest syndication so far, signalling strong demand and approval of the Emergency Budget. The deal attracted more than £10bn of orders, enabling pricing at 1bp over the 2039s, the tight end of the plus 1bp-3bp guidance.
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