UK DMO syndicated linker ticks all the boxes

A UK tap of its 0.5% 2050 index-linked Gilt is well on its way to a successful conclusion, with books reaching over £4bn after less than 1.5 hours, and price guidance on the issue has been revised to 1bp over the UKTi 2047 from the initial range of 1bp-3bp. Lead managers Goldman Sachs, HSBC, JPMorgan and UBS will price the issue later today. Read EuroWeek for commentary from the issuer, investors and bankers on this, the first syndicated offering from the Debt Management Office under the country’s new government.