The UK Debt Management Office said on Tuesday that it planned to hold a tender offer for up to £500m of its 4.25% 2046 Gilt. Meanwhile, Gilt-edged market makers (GEMMs) and investors have expressed their preferred timing, structure and maturity choice for the sovereign’s next syndication.
The tender operation will take place on Thursday.
Invitations will be sent to authorised bidders at 7:45am on Thursday ahead of the opening of the bidding window at 8am. Bidding will close at 10:30am and settlement will take place on Friday.
The proceeds from the Gilt tender will